EOS vs VXX: Correlation
How closely do Eaton Vance Enhance Equity Income Fund II (EOS) 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 -0.66, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EOS and VXX?
On 3 years of weekly data the EOS/VXX correlation comes out at -0.66, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.59) sits close to the 3-year figure. The 5-year figure is -0.60, and annualized covariance runs at -766.1 %².
Among the 34 assets we track against EOS, VXX sits near the bottom by co-movement, at rank #33. Their recent paths diverged sharply: over the last 12 months EOS outperformed by 47.8 percentage points (-1.9% for EOS against -49.7% for VXX). Note the risk asymmetry: VXX runs 3.2 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.
EOS vs VXX: side by side
| EOS (Eaton Vance Enhance Equity Income Fund II) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.9% | -49.7% |
| 5-year return | +30.9% | -95.6% |
| Volatility (ann.) | 19.2% | 60.9% |
| Beta vs S&P 500 | 1.17 | -3.31 |
| Max drawdown (3Y) | -24.3% | -83.3% |
| Market cap | $1.2B | – |
| P/E (trailing) | 7.2 | – |
| Dividend yield | 8.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EOS | VXX |
|---|---|---|
| 2022 | -26.5% | -23.8% |
| 2023 | +22.6% | -72.5% |
| 2024 | +38.7% | -26.2% |
| 2025 | +5.8% | -42.2% |
| 2026 | -2.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EOS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.66 means the two rarely move for the same reasons.
FAQ
What is the correlation between EOS and VXX?
The EOS/VXX correlation stands at -0.66 on a 3-year window (1 year: -0.59, 5 years: -0.60), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EOS?
By historical standards, yes. A correlation of -0.66 means the two rarely move for the same reasons.
What does a correlation of -0.66 mean?
On the −1 to +1 scale, -0.66 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/eos-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eos-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EOS correlations · VXX correlations
