EOI vs VXX: Correlation
Measured on weekly returns over the past three years, Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced (EOI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.62, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOI and VXX?
Over the past 3 years, EOI and VXX moved with a correlation of -0.62, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.69 over 1 year against -0.62 over 3. Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -645.2 %².
Among the 19 assets we track against EOI, VXX sits near the bottom by co-movement, at rank #18. Their recent paths diverged sharply: over the last 12 months EOI outperformed by 51.9 percentage points (+2.2% for EOI against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.6 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.
EOI vs VXX: side by side
| EOI (Eaton Vance Enhance Equity Income Fund Eaton Vance Enhanced) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.2% | -49.7% |
| 5-year return | +55.4% | -95.6% |
| Volatility (ann.) | 17.0% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -23.2% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 8.03% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EOI | VXX |
|---|---|---|
| 2022 | -19.7% | -23.8% |
| 2023 | +20.7% | -72.5% |
| 2024 | +35.8% | -26.2% |
| 2025 | +7.2% | -42.2% |
| 2026 | +3.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.62 means the two rarely move for the same reasons.
FAQ
What is the correlation between EOI and VXX?
The EOI/VXX correlation stands at -0.62 on a 3-year window (1 year: -0.69, 5 years: -0.56), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EOI?
By historical standards, yes. A correlation of -0.62 means the two rarely move for the same reasons.
What does a correlation of -0.62 mean?
A reading of -0.62 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/eoi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eoi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EOI correlations · VXX correlations
