BTX vs VXX: Correlation
How closely do BlackRock Technology and Private Equity Term Trust (BTX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.55, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTX and VXX?
On 3 years of weekly data the BTX/VXX correlation comes out at -0.55, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.49 over 1 year against -0.55 over 3. The 5-year figure is -0.49, and annualized covariance runs at -823.1 %².
VXX is close to the least connected end of BTX's tracked universe, ranking #19 of 20. The last year tells two different stories: BTX led by 89.2 percentage points, +39.5% for BTX against -49.7% for VXX. One caveat on sizing: VXX is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTX vs VXX: side by side
| BTX (BlackRock Technology and Private Equity Term Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.5% | -49.7% |
| 5-year return | -21.7% | -95.6% |
| Volatility (ann.) | 24.4% | 60.9% |
| Beta vs S&P 500 | 1.23 | -3.31 |
| Max drawdown (3Y) | -31.7% | -83.3% |
| Market cap | $1.1B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTX | VXX |
|---|---|---|
| 2022 | -47.8% | -23.8% |
| 2023 | +19.3% | -72.5% |
| 2024 | +13.4% | -26.2% |
| 2025 | +0.9% | -42.2% |
| 2026 | +45.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTX and VXX good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BTX and VXX?
Using weekly returns as of 2026-08-27: -0.55 over 3 years, with -0.49 over the last year and -0.49 over 5 years.
Is VXX a good diversifier for BTX?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
A reading of -0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/btx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BTX correlations · VXX correlations
