CII vs VXX: Correlation
Measured on weekly returns over the past three years, BlackRock Enhanced Large Cap Core Fund, Inc. (CII) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.61, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CII and VXX?
On 3 years of weekly data the CII/VXX correlation comes out at -0.61, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.57 lands near the 3-year figure. The 5-year figure is -0.60, and annualized covariance runs at -662.3 %².
Among the 12 assets we track against CII, VXX sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months CII outperformed by 80.7 percentage points (+31.0% for CII against -49.7% for VXX). One caveat on sizing: VXX is 3.4 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.
CII vs VXX: side by side
| CII (BlackRock Enhanced Large Cap Core Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +31.0% | -49.7% |
| 5-year return | +85.9% | -95.6% |
| Volatility (ann.) | 17.7% | 60.9% |
| Beta vs S&P 500 | 0.97 | -3.31 |
| Max drawdown (3Y) | -21.1% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 4.8 | – |
| Dividend yield | 8.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CII | VXX |
|---|---|---|
| 2022 | -13.2% | -23.8% |
| 2023 | +18.5% | -72.5% |
| 2024 | +12.7% | -26.2% |
| 2025 | +37.8% | -42.2% |
| 2026 | +11.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CII and VXX good diversifiers for each other?
Yes: at -0.61, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CII and VXX?
Using weekly returns as of 2026-08-27: -0.61 over 3 years, with -0.57 over the last year and -0.60 over 5 years.
Is VXX a good diversifier for CII?
Yes: at -0.61, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.61 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cii-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cii-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CII correlations · VXX correlations
