GGT vs VXX: Correlation
Gabelli Multi-Media Trust, Inc. (The) (GGT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GGT and VXX?
Across a 3-year window, the weekly returns of GGT and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.29, with an annualized covariance of -298.6 %².
VXX is close to the least connected end of GGT's tracked universe, ranking #10 of 12. Correlation aside, the last 12 months split them widely, with GGT ahead by 69.3 points (+19.6% versus -49.7%). One caveat on sizing: VXX is 2.8 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.
GGT vs VXX: side by side
| GGT (Gabelli Multi-Media Trust, Inc. (The)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.6% | -49.7% |
| 5-year return | -2.3% | -95.6% |
| Volatility (ann.) | 21.6% | 60.9% |
| Beta vs S&P 500 | 0.52 | -3.31 |
| Max drawdown (3Y) | -31.7% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.3 | – |
| Dividend yield | 21.31% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GGT | VXX |
|---|---|---|
| 2022 | -30.8% | -23.8% |
| 2023 | +22.5% | -72.5% |
| 2024 | -6.0% | -26.2% |
| 2025 | +15.4% | -42.2% |
| 2026 | +12.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GGT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between GGT and VXX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.32 over the last year and -0.29 over 5 years.
Is VXX a good diversifier for GGT?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ggt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ggt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GGT correlations · VXX correlations
