EDF vs VXX: Correlation
How closely do Virtus Stone Harbor Emerging Markets Income Fund (EDF) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDF and VXX?
Across a 3-year window, the weekly returns of EDF and VXX correlate at -0.39, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.49) sits close to the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -497.9 %².
Among the 11 assets we track against EDF, VXX sits near the bottom by co-movement, at rank #11. The last year tells two different stories: EDF led by 65.1 percentage points, +15.4% for EDF against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.9 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.
EDF vs VXX: side by side
| EDF (Virtus Stone Harbor Emerging Markets Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.4% | -49.7% |
| 5-year return | +26.6% | -95.6% |
| Volatility (ann.) | 20.9% | 60.9% |
| Beta vs S&P 500 | 0.52 | -3.31 |
| Max drawdown (3Y) | -23.4% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDF | VXX |
|---|---|---|
| 2022 | -28.0% | -23.8% |
| 2023 | +21.6% | -72.5% |
| 2024 | +25.5% | -26.2% |
| 2025 | +22.2% | -42.2% |
| 2026 | +14.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDF and VXX good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EDF and VXX?
As of 2026-08-27, the correlation of weekly returns between EDF and VXX is -0.39 over 3 years, -0.49 over 1 year and -0.36 over 5 years.
Is VXX a good diversifier for EDF?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/edf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EDF correlations · VXX correlations
