ERC vs VXZ: Correlation
Allspring Multi-Sector Income Fund (ERC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERC and VXZ?
Across a 3-year window, the weekly returns of ERC and VXZ correlate at -0.54, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.61) sits close to the 3-year figure. Stretching to 5 years gives -0.52, with an annualized covariance of -138.6 %².
Out of 22 assets tracked against ERC, VXZ lands near the bottom at #22. The last year tells two different stories: ERC led by 22.8 percentage points, +6.7% for ERC against -16.1% for VXZ. Risk is not evenly split, since VXZ carries 2.5 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.
ERC vs VXZ: side by side
| ERC (Allspring Multi-Sector Income Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.7% | -16.1% |
| 5-year return | +11.4% | -53.1% |
| Volatility (ann.) | 10.1% | 25.6% |
| Beta vs S&P 500 | 0.41 | -1.31 |
| Max drawdown (3Y) | -9.8% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 9.33% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERC | VXZ |
|---|---|---|
| 2022 | -17.8% | +0.5% |
| 2023 | +4.9% | -44.0% |
| 2024 | +6.1% | -12.7% |
| 2025 | +11.1% | +5.7% |
| 2026 | +5.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.54 means the two rarely move for the same reasons.
FAQ
What is the correlation between ERC and VXZ?
The ERC/VXZ correlation stands at -0.54 on a 3-year window (1 year: -0.61, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ERC?
By historical standards, yes. A correlation of -0.54 means the two rarely move for the same reasons.
What does a correlation of -0.54 mean?
On the −1 to +1 scale, -0.54 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/erc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/erc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERC correlations · VXZ correlations
