DGRO vs VXX: Correlation
iShares Core Dividend Growth ETF (DGRO) 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 -0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DGRO and VXX?
Over the past 3 years, DGRO and VXX moved with a correlation of -0.71, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.60 versus -0.71 over 3 years. Over 5 years the correlation is -0.63, and the annualized covariance of weekly returns is -495.3 %².
VXX is close to the least connected end of DGRO's tracked universe, ranking #137 of 138. Their recent paths diverged sharply: over the last 12 months DGRO outperformed by 70.7 percentage points (+21.0% for DGRO against -49.7% for VXX). One caveat on sizing: VXX is 5.3 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.
DGRO vs VXX: side by side
| DGRO (iShares Core Dividend Growth ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.0% | -49.7% |
| 5-year return | +67.9% | -95.6% |
| Volatility (ann.) | 11.4% | 60.9% |
| Beta vs S&P 500 | 0.65 | -3.31 |
| Max drawdown (3Y) | -14.0% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.89% | 0.00% |
| Expense ratio | 0.08% | – |
| Assets under management | $42.8B | – |
| Sector / category | ETF · Dividend | US Listed |
DGRO, iShares's Large Value fund, carries $42.8B under management, 383 holdings, a 0.08% expense ratio, a 1.89% trailing dividend yield.
Year-by-year returns
| Year | DGRO | VXX |
|---|---|---|
| 2022 | -7.9% | -23.8% |
| 2023 | +10.5% | -72.5% |
| 2024 | +16.6% | -26.2% |
| 2025 | +15.7% | -42.2% |
| 2026 | +15.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DGRO and VXX good diversifiers for each other?
Yes: at -0.71, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DGRO and VXX?
As of 2026-08-27, the correlation of weekly returns between DGRO and VXX is -0.71 over 3 years, -0.60 over 1 year and -0.63 over 5 years.
Is VXX a good diversifier for DGRO?
Yes: at -0.71, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.71 mean?
On the −1 to +1 scale, -0.71 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/dgro-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dgro-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DGRO correlations · VXX correlations
