DHF vs VXX: Correlation
Measured on weekly returns over the past three years, BNY Mellon High Yield Strategies Fund (DHF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.57, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DHF and VXX?
Over the past 3 years, DHF and VXX moved with a correlation of -0.57, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.56 over 1 year against -0.57 over 3. Over 5 years the correlation is -0.50, and the annualized covariance of weekly returns is -394.4 %².
Out of 15 assets tracked against DHF, VXX lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with DHF ahead by 49.1 points (-0.6% versus -49.7%). Risk is not evenly split, since VXX carries 5.3 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.
DHF vs VXX: side by side
| DHF (BNY Mellon High Yield Strategies Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.6% | -49.7% |
| 5-year return | +7.9% | -95.6% |
| Volatility (ann.) | 11.4% | 60.9% |
| Beta vs S&P 500 | 0.52 | -3.31 |
| Max drawdown (3Y) | -11.8% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 8.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DHF | VXX |
|---|---|---|
| 2022 | -22.5% | -23.8% |
| 2023 | +15.0% | -72.5% |
| 2024 | +21.4% | -26.2% |
| 2025 | +5.9% | -42.2% |
| 2026 | -0.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DHF and VXX good diversifiers for each other?
Yes. With a correlation of -0.57, DHF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DHF and VXX?
Using weekly returns as of 2026-08-27: -0.57 over 3 years, with -0.56 over the last year and -0.50 over 5 years.
Is VXX a good diversifier for DHF?
Yes. With a correlation of -0.57, DHF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 mean?
A reading of -0.57 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/dhf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dhf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DHF correlations · VXX correlations
