EVF vs VXZ: Correlation
Measured on weekly returns over the past three years, Eaton Vance Senior Income Trust (EVF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.55, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVF and VXZ?
Over the past 3 years, EVF and VXZ moved with a correlation of -0.55, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.61 lands near the 3-year figure. Over 5 years the correlation is -0.48, and the annualized covariance of weekly returns is -144.2 %².
VXZ is close to the least connected end of EVF's tracked universe, ranking #14 of 14. On 12-month performance EVF holds a 13.1-point edge, -3.0% against -16.1%. 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.
EVF vs VXZ: side by side
| EVF (Eaton Vance Senior Income Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.0% | -16.1% |
| 5-year return | +15.0% | -53.1% |
| Volatility (ann.) | 10.2% | 25.6% |
| Beta vs S&P 500 | 0.41 | -1.31 |
| Max drawdown (3Y) | -16.9% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVF | VXZ |
|---|---|---|
| 2022 | -14.8% | +0.5% |
| 2023 | +34.5% | -44.0% |
| 2024 | +7.3% | -12.7% |
| 2025 | -6.1% | +5.7% |
| 2026 | -0.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVF and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
FAQ
What is the correlation between EVF and VXZ?
Using weekly returns as of 2026-08-27: -0.55 over 3 years, with -0.61 over the last year and -0.48 over 5 years.
Is VXZ a good diversifier for EVF?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 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/evf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EVF correlations · VXZ correlations
