EVV vs VXX: Correlation
How closely do Eaton Vance Limited Duration Income Fund (EVV) 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 -0.53, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVV and VXX?
Over the past 3 years, EVV and VXX moved with a correlation of -0.53, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.51 lands near the 3-year figure. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -328.9 %².
Out of 23 assets tracked against EVV, VXX lands near the bottom at #22. The last year tells two different stories: EVV led by 46.2 percentage points, -3.5% for EVV against -49.7% for VXX. One caveat on sizing: VXX is 6.0 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.
EVV vs VXX: side by side
| EVV (Eaton Vance Limited Duration Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.5% | -49.7% |
| 5-year return | +11.4% | -95.6% |
| Volatility (ann.) | 10.2% | 60.9% |
| Beta vs S&P 500 | 0.41 | -3.31 |
| Max drawdown (3Y) | -9.5% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 9.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVV | VXX |
|---|---|---|
| 2022 | -19.9% | -23.8% |
| 2023 | +13.3% | -72.5% |
| 2024 | +12.2% | -26.2% |
| 2025 | +10.7% | -42.2% |
| 2026 | -2.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVV and VXX good diversifiers for each other?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EVV and VXX?
As of 2026-08-27, the correlation of weekly returns between EVV and VXX is -0.53 over 3 years, -0.51 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for EVV?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.53 mean?
A reading of -0.53 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/evv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVV correlations · VXX correlations
