DTF vs VXX: Correlation
Measured on weekly returns over the past three years, DTF Tax-Free Income 2028 Term Fund Inc. (DTF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DTF and VXX?
Over the past 3 years, DTF and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.28 over 3. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -85.3 %².
VXX is close to the least connected end of DTF's tracked universe, ranking #8 of 10. The last year tells two different stories: DTF led by 55.3 percentage points, +5.6% for DTF against -49.7% for VXX. Risk is not evenly split, since VXX carries 12.2 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.
DTF vs VXX: side by side
| DTF (DTF Tax-Free Income 2028 Term Fund Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.6% | -49.7% |
| 5-year return | -7.5% | -95.6% |
| Volatility (ann.) | 5.0% | 60.9% |
| Beta vs S&P 500 | 0.10 | -3.31 |
| Max drawdown (3Y) | -5.4% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 3.37% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DTF | VXX |
|---|---|---|
| 2022 | -21.1% | -23.8% |
| 2023 | +2.2% | -72.5% |
| 2024 | +8.2% | -26.2% |
| 2025 | +5.4% | -42.2% |
| 2026 | +3.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DTF and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between DTF and VXX?
As of 2026-08-27, the correlation of weekly returns between DTF and VXX is -0.28 over 3 years, -0.26 over 1 year and -0.25 over 5 years.
Is VXX a good diversifier for DTF?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 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/dtf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dtf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DTF correlations · VXX correlations
