DMA vs VXZ: Correlation
Destra Multi-Alternative Fund (DMA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMA and VXZ?
On 3 years of weekly data the DMA/VXZ correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.26, and annualized covariance runs at -172.0 %².
VXZ is close to the least connected end of DMA's tracked universe, ranking #10 of 10. On 12-month performance DMA holds a 12.8-point edge, -3.3% against -16.1%.
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.
DMA vs VXZ: side by side
| DMA (Destra Multi-Alternative Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.3% | -16.1% |
| 5-year return | +19.8% | -53.1% |
| Volatility (ann.) | 17.6% | 25.6% |
| Beta vs S&P 500 | 0.47 | -1.31 |
| Max drawdown (3Y) | -19.4% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMA | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | -3.8% | -44.0% |
| 2024 | +41.1% | -12.7% |
| 2025 | +12.0% | +5.7% |
| 2026 | -6.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMA and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DMA and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.32 over the last year and -0.26 over 5 years.
Is VXZ a good diversifier for DMA?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 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/dma-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dma-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DMA correlations · VXZ correlations
