ETG vs VXX: Correlation
How closely do Eaton Vance Tax-Advantaged Global Dividend Income Fund (ETG) 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 -0.75, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETG and VXX?
Across a 3-year window, the weekly returns of ETG and VXX correlate at -0.75, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.74) sits close to the 3-year figure. Stretching to 5 years gives -0.62, with an annualized covariance of -771.5 %².
Among the 27 assets we track against ETG, VXX sits near the bottom by co-movement, at rank #27. The last year tells two different stories: ETG led by 74.9 percentage points, +25.2% for ETG 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.
ETG vs VXX: side by side
| ETG (Eaton Vance Tax-Advantaged Global Dividend Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.2% | -49.7% |
| 5-year return | +60.6% | -95.6% |
| Volatility (ann.) | 16.9% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -17.0% | -83.3% |
| Market cap | $1.9B | – |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 6.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETG | VXX |
|---|---|---|
| 2022 | -27.6% | -23.8% |
| 2023 | +22.0% | -72.5% |
| 2024 | +15.4% | -26.2% |
| 2025 | +36.9% | -42.2% |
| 2026 | +9.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETG and VXX good diversifiers for each other?
Yes: at -0.75, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ETG and VXX?
Using weekly returns as of 2026-08-27: -0.75 over 3 years, with -0.74 over the last year and -0.62 over 5 years.
Is VXX a good diversifier for ETG?
Yes: at -0.75, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.75 mean?
A reading of -0.75 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/etg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/etg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ETG correlations · VXX correlations
