GNT vs VXX: Correlation
GAMCO Natural Resources, Gold & Income Trust (GNT) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNT and VXX?
Over the past 3 years, GNT and VXX moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -336.6 %².
Among the 11 assets we track against GNT, VXX sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months GNT outperformed by 100.8 percentage points (+51.1% for GNT against -49.7% for VXX). One caveat on sizing: VXX is 2.9 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.
GNT vs VXX: side by side
| GNT (GAMCO Natural Resources, Gold & Income Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +51.1% | -49.7% |
| 5-year return | +152.2% | -95.6% |
| Volatility (ann.) | 21.0% | 60.9% |
| Beta vs S&P 500 | 0.40 | -3.31 |
| Max drawdown (3Y) | -15.7% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNT | VXX |
|---|---|---|
| 2022 | +2.8% | -23.8% |
| 2023 | +7.8% | -72.5% |
| 2024 | +10.5% | -26.2% |
| 2025 | +52.4% | -42.2% |
| 2026 | +32.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNT and VXX good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GNT and VXX?
The GNT/VXX correlation stands at -0.26 on a 3-year window (1 year: -0.24, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for GNT?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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/gnt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GNT correlations · VXX correlations
