EFT vs VXX: Correlation
How closely do Eaton Vance Floating Rate Income Trust (EFT) 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 -0.53, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFT and VXX?
Across a 3-year window, the weekly returns of EFT and VXX correlate at -0.53, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.45 lands near the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -355.2 %².
VXX is close to the least connected end of EFT's tracked universe, ranking #13 of 14. The last year tells two different stories: EFT led by 44.9 percentage points, -4.8% for EFT against -49.7% for VXX. Risk is not evenly split, since VXX carries 5.6 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.
EFT vs VXX: side by side
| EFT (Eaton Vance Floating Rate Income Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -4.8% | -49.7% |
| 5-year return | +13.9% | -95.6% |
| Volatility (ann.) | 10.9% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -17.5% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 42.4 | – |
| Dividend yield | 9.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFT | VXX |
|---|---|---|
| 2022 | -19.7% | -23.8% |
| 2023 | +27.1% | -72.5% |
| 2024 | +13.2% | -26.2% |
| 2025 | -3.8% | -42.2% |
| 2026 | -1.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
FAQ
What is the correlation between EFT and VXX?
As of 2026-08-27, the correlation of weekly returns between EFT and VXX is -0.53 over 3 years, -0.45 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for EFT?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
What does a correlation of -0.53 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/eft-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eft-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EFT correlations · VXX correlations
