GUG vs VXX: Correlation
Measured on weekly returns over the past three years, Guggenheim Active Allocation Fund (GUG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GUG and VXX?
Over the past 3 years, GUG and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.28 versus -0.44 over 3 years. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -344.1 %².
Out of 12 assets tracked against GUG, VXX lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months GUG outperformed by 55.1 percentage points (+5.4% for GUG against -49.7% for VXX). One caveat on sizing: VXX is 4.7 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.
GUG vs VXX: side by side
| GUG (Guggenheim Active Allocation Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.4% | -49.7% |
| 5-year return | +16.3% | -95.6% |
| Volatility (ann.) | 12.9% | 60.9% |
| Beta vs S&P 500 | 0.40 | -3.31 |
| Max drawdown (3Y) | -12.1% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GUG | VXX |
|---|---|---|
| 2022 | -26.5% | -23.8% |
| 2023 | +20.7% | -72.5% |
| 2024 | +11.5% | -26.2% |
| 2025 | +13.1% | -42.2% |
| 2026 | +4.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GUG and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between GUG and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.28 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for GUG?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gug-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gug-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GUG correlations · VXX correlations
