GAB vs VXX: Correlation
How closely do Gabelli Equity Trust, Inc. (The) (GAB) 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 -0.58, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAB and VXX?
Over the past 3 years, GAB and VXX moved with a correlation of -0.58, 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 -0.49, and the annualized covariance of weekly returns is -573.6 %².
Out of 16 assets tracked against GAB, VXX lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with GAB ahead by 55.5 points (+5.8% versus -49.7%). One caveat on sizing: VXX is 3.8 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.
GAB vs VXX: side by side
| GAB (Gabelli Equity Trust, Inc. (The)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.8% | -49.7% |
| 5-year return | +40.3% | -95.6% |
| Volatility (ann.) | 16.2% | 60.9% |
| Beta vs S&P 500 | 0.72 | -3.31 |
| Max drawdown (3Y) | -14.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 10.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GAB | VXX |
|---|---|---|
| 2022 | -16.3% | -23.8% |
| 2023 | +3.4% | -72.5% |
| 2024 | +18.0% | -26.2% |
| 2025 | +27.0% | -42.2% |
| 2026 | -1.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAB and VXX good diversifiers for each other?
Yes: at -0.58, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GAB and VXX?
Using weekly returns as of 2026-08-27: -0.58 over 3 years, with -0.51 over the last year and -0.49 over 5 years.
Is VXX a good diversifier for GAB?
Yes: at -0.58, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.58 mean?
On the −1 to +1 scale, -0.58 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/gab-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gab-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GAB correlations · VXX correlations
