CCIF vs VXX: Correlation
How closely do Carlyle Credit Income Fund Shares of Beneficial Interest (CCIF) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCIF and VXX?
Across a 3-year window, the weekly returns of CCIF and VXX correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.24). Stretching to 5 years gives -0.21, with an annualized covariance of -311.5 %².
Out of 10 assets tracked against CCIF, VXX lands near the bottom at #9. The trailing year gives CCIF the advantage: -39.9% versus -49.7%, a 9.8-point spread. Risk is not evenly split, since VXX carries 2.9 times the volatility of the other side.
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.
CCIF vs VXX: side by side
| CCIF (Carlyle Credit Income Fund Shares of Beneficial Interest) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -39.9% | -49.7% |
| 5-year return | -39.0% | -95.6% |
| Volatility (ann.) | 20.9% | 60.9% |
| Beta vs S&P 500 | 0.43 | -3.31 |
| Max drawdown (3Y) | -55.6% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCIF | VXX |
|---|---|---|
| 2022 | -6.4% | -23.8% |
| 2023 | +14.5% | -72.5% |
| 2024 | +16.4% | -26.2% |
| 2025 | -27.6% | -42.2% |
| 2026 | -32.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCIF and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCIF and VXX?
The CCIF/VXX correlation stands at -0.24 on a 3-year window (1 year: -0.37, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CCIF?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/ccif-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccif-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCIF correlations · VXX correlations
