FLC vs VXX: Correlation
Measured on weekly returns over the past three years, Flaherty & Crumrine Total Return Fund Inc (FLC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.60, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLC and VXX?
Across a 3-year window, the weekly returns of FLC and VXX correlate at -0.60, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.51) sits close to the 3-year figure. Stretching to 5 years gives -0.50, with an annualized covariance of -415.7 %².
Out of 22 assets tracked against FLC, VXX lands near the bottom at #21. The last year tells two different stories: FLC led by 53.5 percentage points, +3.8% for FLC against -49.7% for VXX. Note the risk asymmetry: VXX runs 5.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FLC vs VXX: side by side
| FLC (Flaherty & Crumrine Total Return Fund Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.8% | -49.7% |
| 5-year return | -0.2% | -95.6% |
| Volatility (ann.) | 11.3% | 60.9% |
| Beta vs S&P 500 | 0.48 | -3.31 |
| Max drawdown (3Y) | -10.5% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 9.3 | – |
| Dividend yield | 7.25% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLC | VXX |
|---|---|---|
| 2022 | -25.1% | -23.8% |
| 2023 | -0.8% | -72.5% |
| 2024 | +23.1% | -26.2% |
| 2025 | +12.4% | -42.2% |
| 2026 | -0.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
FAQ
What is the correlation between FLC and VXX?
Using weekly returns as of 2026-08-27: -0.60 over 3 years, with -0.51 over the last year and -0.50 over 5 years.
Is VXX a good diversifier for FLC?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
What does a correlation of -0.60 mean?
On the −1 to +1 scale, -0.60 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/flc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLC correlations · VXX correlations
