EVT vs VXX: Correlation
Measured on weekly returns over the past three years, Eaton Vance Tax Advantaged Dividend Income Fund (EVT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.70, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVT and VXX?
Over the past 3 years, EVT and VXX moved with a correlation of -0.70, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.74 over 1 year against -0.70 over 3. Over 5 years the correlation is -0.61, and the annualized covariance of weekly returns is -654.4 %².
Among the 52 assets we track against EVT, VXX sits near the bottom by co-movement, at rank #51. The last year tells two different stories: EVT led by 78.5 percentage points, +28.8% for EVT against -49.7% for VXX. Risk is not evenly split, since VXX carries 4.0 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.
EVT vs VXX: side by side
| EVT (Eaton Vance Tax Advantaged Dividend Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.8% | -49.7% |
| 5-year return | +51.3% | -95.6% |
| Volatility (ann.) | 15.3% | 60.9% |
| Beta vs S&P 500 | 0.85 | -3.31 |
| Max drawdown (3Y) | -18.7% | -83.3% |
| Market cap | $2.2B | – |
| P/E (trailing) | 4.5 | – |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVT | VXX |
|---|---|---|
| 2022 | -17.3% | -23.8% |
| 2023 | +5.8% | -72.5% |
| 2024 | +17.4% | -26.2% |
| 2025 | +13.8% | -42.2% |
| 2026 | +20.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVT and VXX good diversifiers for each other?
Yes: at -0.70, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EVT and VXX?
The EVT/VXX correlation stands at -0.70 on a 3-year window (1 year: -0.74, 5 years: -0.61), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EVT?
Yes: at -0.70, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.70 mean?
A reading of -0.70 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/evt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVT correlations · VXX correlations
