ERH vs VXX: Correlation
How closely do Allspring Utilities and High Income Fund (ERH) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERH and VXX?
Over the past 3 years, ERH and VXX moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -288.5 %².
Out of 21 assets tracked against ERH, VXX lands near the bottom at #20. The last year tells two different stories: ERH led by 52.9 percentage points, +3.2% for ERH against -49.7% for VXX. One caveat on sizing: VXX is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ERH vs VXX: side by side
| ERH (Allspring Utilities and High Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.2% | -49.7% |
| 5-year return | +17.1% | -95.6% |
| Volatility (ann.) | 14.9% | 60.9% |
| Beta vs S&P 500 | 0.33 | -3.31 |
| Max drawdown (3Y) | -16.2% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 8.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERH | VXX |
|---|---|---|
| 2022 | -18.4% | -23.8% |
| 2023 | -10.5% | -72.5% |
| 2024 | +25.7% | -26.2% |
| 2025 | +19.8% | -42.2% |
| 2026 | +2.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERH and VXX good diversifiers for each other?
Yes. With a correlation of -0.32, ERH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ERH and VXX?
The ERH/VXX correlation stands at -0.32 on a 3-year window (1 year: -0.22, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ERH?
Yes. With a correlation of -0.32, ERH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/erh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/erh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERH correlations · VXX correlations
