BSL vs VXX: Correlation
Blackstone Senior Floating Rate 2027 Term Fund (BSL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSL and VXX?
Over the past 3 years, BSL and VXX moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.53 versus -0.40 over 3 years. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -169.6 %².
Among the 10 assets we track against BSL, VXX sits near the bottom by co-movement, at rank #9. The last year tells two different stories: BSL led by 48.5 percentage points, -1.2% for BSL against -49.7% for VXX. Note the risk asymmetry: VXX runs 8.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BSL vs VXX: side by side
| BSL (Blackstone Senior Floating Rate 2027 Term Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.2% | -49.7% |
| 5-year return | +23.5% | -95.6% |
| Volatility (ann.) | 6.9% | 60.9% |
| Beta vs S&P 500 | 0.20 | -3.31 |
| Max drawdown (3Y) | -7.9% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 22.8 | – |
| Dividend yield | 8.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSL | VXX |
|---|---|---|
| 2022 | -22.9% | -23.8% |
| 2023 | +20.0% | -72.5% |
| 2024 | +18.2% | -26.2% |
| 2025 | +2.2% | -42.2% |
| 2026 | +0.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSL and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, BSL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BSL and VXX?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.53 over the last year and -0.33 over 5 years.
Is VXX a good diversifier for BSL?
Yes. With a correlation of -0.40, BSL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bsl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSL correlations · VXX correlations
