HEQ vs VXX: Correlation
John Hancock Diversified Income Fund (HEQ) 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 -0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HEQ and VXX?
Across a 3-year window, the weekly returns of HEQ and VXX correlate at -0.58, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.54 lands near the 3-year figure. Stretching to 5 years gives -0.42, with an annualized covariance of -432.2 %².
Among the 13 assets we track against HEQ, VXX sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with HEQ ahead by 70.5 points (+20.8% versus -49.7%). One caveat on sizing: VXX is 5.0 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.
HEQ vs VXX: side by side
| HEQ (John Hancock Diversified Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.8% | -49.7% |
| 5-year return | +43.5% | -95.6% |
| Volatility (ann.) | 12.3% | 60.9% |
| Beta vs S&P 500 | 0.59 | -3.31 |
| Max drawdown (3Y) | -11.5% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HEQ | VXX |
|---|---|---|
| 2022 | -3.1% | -23.8% |
| 2023 | -3.1% | -72.5% |
| 2024 | +11.7% | -26.2% |
| 2025 | +15.6% | -42.2% |
| 2026 | +15.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HEQ and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.58 means the two rarely move for the same reasons.
FAQ
What is the correlation between HEQ and VXX?
As of 2026-08-27, the correlation of weekly returns between HEQ and VXX is -0.58 over 3 years, -0.54 over 1 year and -0.42 over 5 years.
Is VXX a good diversifier for HEQ?
By historical standards, yes. A correlation of -0.58 means the two rarely move for the same reasons.
What does a correlation of -0.58 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/heq-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/heq-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HEQ correlations · VXX correlations
