DSM vs VXX: Correlation
How closely do BNY Mellon Strategic Municipal Bond Fund, Inc. (DSM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSM and VXX?
Across a 3-year window, the weekly returns of DSM and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -262.8 %².
Among the 18 assets we track against DSM, VXX sits near the bottom by co-movement, at rank #17. Correlation aside, the last 12 months split them widely, with DSM ahead by 58.3 points (+8.6% versus -49.7%). One caveat on sizing: VXX is 4.9 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.
DSM vs VXX: side by side
| DSM (BNY Mellon Strategic Municipal Bond Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.6% | -49.7% |
| 5-year return | -13.5% | -95.6% |
| Volatility (ann.) | 12.4% | 60.9% |
| Beta vs S&P 500 | 0.29 | -3.31 |
| Max drawdown (3Y) | -13.4% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.2 | – |
| Dividend yield | 4.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSM | VXX |
|---|---|---|
| 2022 | -27.0% | -23.8% |
| 2023 | +3.2% | -72.5% |
| 2024 | +5.5% | -26.2% |
| 2025 | +10.9% | -42.2% |
| 2026 | -2.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSM and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between DSM and VXX?
The DSM/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.40, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for DSM?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/dsm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dsm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DSM correlations · VXX correlations
