GRF vs VXX: Correlation
Measured on weekly returns over the past three years, Eagle Capital Growth Fund, Inc. (GRF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRF and VXX?
Across a 3-year window, the weekly returns of GRF and VXX correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.20). Stretching to 5 years gives -0.12, with an annualized covariance of -235.7 %².
Among the 10 assets we track against GRF, VXX sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months GRF outperformed by 59.4 percentage points (+9.7% for GRF against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.1 times the volatility of the other side.
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.
GRF vs VXX: side by side
| GRF (Eagle Capital Growth Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.7% | -49.7% |
| 5-year return | +56.2% | -95.6% |
| Volatility (ann.) | 19.6% | 60.9% |
| Beta vs S&P 500 | 0.31 | -3.31 |
| Max drawdown (3Y) | -17.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 8.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRF | VXX |
|---|---|---|
| 2022 | -6.5% | -23.8% |
| 2023 | +14.9% | -72.5% |
| 2024 | +10.3% | -26.2% |
| 2025 | +19.1% | -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 GRF and VXX good diversifiers for each other?
Yes. With a correlation of -0.20, GRF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRF and VXX?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.05 over the last year and -0.12 over 5 years.
Is VXX a good diversifier for GRF?
Yes. With a correlation of -0.20, GRF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/grf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRF correlations · VXX correlations
