DSL vs VXZ: Correlation
DoubleLine Income Solutions Fund (DSL) 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 -0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSL and VXZ?
On 3 years of weekly data the DSL/VXZ correlation comes out at -0.57, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.63 lands near the 3-year figure. The 5-year figure is -0.53, and annualized covariance runs at -177.4 %².
Among the 30 assets we track against DSL, VXZ sits near the bottom by co-movement, at rank #30. On 12-month performance DSL holds a 12.4-point edge, -3.7% against -16.1%. Note the risk asymmetry: VXZ runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DSL vs VXZ: side by side
| DSL (DoubleLine Income Solutions Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.7% | -16.1% |
| 5-year return | +5.8% | -53.1% |
| Volatility (ann.) | 12.2% | 25.6% |
| Beta vs S&P 500 | 0.49 | -1.31 |
| Max drawdown (3Y) | -13.5% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 33.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSL | VXZ |
|---|---|---|
| 2022 | -22.6% | +0.5% |
| 2023 | +23.4% | -44.0% |
| 2024 | +14.0% | -12.7% |
| 2025 | -0.0% | +5.7% |
| 2026 | +2.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.57, DSL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DSL and VXZ?
Using weekly returns as of 2026-08-27: -0.57 over 3 years, with -0.63 over the last year and -0.53 over 5 years.
Is VXZ a good diversifier for DSL?
Yes. With a correlation of -0.57, DSL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 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/dsl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dsl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSL correlations · VXZ correlations
