HYT vs VXX: Correlation
Measured on weekly returns over the past three years, Blackrock Corporate High Yield Fund, Inc. (HYT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.53, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYT and VXX?
Across a 3-year window, the weekly returns of HYT and VXX correlate at -0.53, 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 -0.50, with an annualized covariance of -372.5 %².
Among the 17 assets we track against HYT, VXX sits near the bottom by co-movement, at rank #17. The last year tells two different stories: HYT led by 48.1 percentage points, -1.6% for HYT against -49.7% for VXX. One caveat on sizing: VXX is 5.2 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.
HYT vs VXX: side by side
| HYT (Blackrock Corporate High Yield Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.6% | -49.7% |
| 5-year return | +7.9% | -95.6% |
| Volatility (ann.) | 11.6% | 60.9% |
| Beta vs S&P 500 | 0.52 | -3.31 |
| Max drawdown (3Y) | -14.0% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 11.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYT | VXX |
|---|---|---|
| 2022 | -22.6% | -23.8% |
| 2023 | +19.9% | -72.5% |
| 2024 | +14.4% | -26.2% |
| 2025 | +0.0% | -42.2% |
| 2026 | +0.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYT and VXX good diversifiers for each other?
Yes. With a correlation of -0.53, HYT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HYT and VXX?
The HYT/VXX correlation stands at -0.53 on a 3-year window (1 year: -0.54, 5 years: -0.50), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for HYT?
Yes. With a correlation of -0.53, HYT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.53 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/hyt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hyt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HYT correlations · VXX correlations
