HTD vs VXZ: Correlation
How closely do John Hancock Tax Advantaged Dividend Income Fund (HTD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTD and VXZ?
On 3 years of weekly data the HTD/VXZ correlation comes out at -0.45, 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 -0.45 over 3 years. The 5-year figure is -0.46, and annualized covariance runs at -182.5 %².
Out of 23 assets tracked against HTD, VXZ lands near the bottom at #23. The last year tells two different stories: HTD led by 27.1 percentage points, +11.0% for HTD against -16.1% for VXZ. Risk is not evenly split, since VXZ carries 1.6 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.
HTD vs VXZ: side by side
| HTD (John Hancock Tax Advantaged Dividend Income Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.0% | -16.1% |
| 5-year return | +50.6% | -53.1% |
| Volatility (ann.) | 15.9% | 25.6% |
| Beta vs S&P 500 | 0.43 | -1.31 |
| Max drawdown (3Y) | -15.7% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 5.3 | – |
| Dividend yield | 7.30% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTD | VXZ |
|---|---|---|
| 2022 | -6.2% | +0.5% |
| 2023 | -9.9% | -44.0% |
| 2024 | +25.7% | -12.7% |
| 2025 | +15.9% | +5.7% |
| 2026 | +12.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.45, HTD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HTD and VXZ?
As of 2026-08-27, the correlation of weekly returns between HTD and VXZ is -0.45 over 3 years, -0.28 over 1 year and -0.46 over 5 years.
Is VXZ a good diversifier for HTD?
Yes. With a correlation of -0.45, HTD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 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/htd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/htd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTD correlations · VXZ correlations
