DMB vs VXX: Correlation
Measured on weekly returns over the past three years, BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMB and VXX?
Over the past 3 years, DMB and VXX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.29). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -221.2 %².
VXX is close to the least connected end of DMB's tracked universe, ranking #19 of 21. The last year tells two different stories: DMB led by 60.7 percentage points, +11.0% for DMB against -49.7% for VXX. Risk is not evenly split, since VXX carries 4.9 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.
DMB vs VXX: side by side
| DMB (BNY Mellon Municipal Bond Infrastructure Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.0% | -49.7% |
| 5-year return | -15.7% | -95.6% |
| Volatility (ann.) | 12.4% | 60.9% |
| Beta vs S&P 500 | 0.26 | -3.31 |
| Max drawdown (3Y) | -14.7% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 34.1 | – |
| Dividend yield | 4.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMB | VXX |
|---|---|---|
| 2022 | -23.5% | -23.8% |
| 2023 | +2.4% | -72.5% |
| 2024 | +3.9% | -26.2% |
| 2025 | +10.7% | -42.2% |
| 2026 | -0.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMB and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DMB and VXX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.45 over the last year and -0.19 over 5 years.
Is VXX a good diversifier for DMB?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/dmb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dmb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DMB correlations · VXX correlations
