IHD vs VXX: Correlation
Voya Emerging Markets High Income Dividend Equity Fund (IHD) 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 -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IHD and VXX?
Over the past 3 years, IHD and VXX moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.61 versus -0.47 over 3 years. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -469.5 %².
VXX is close to the least connected end of IHD's tracked universe, ranking #13 of 13. The last year tells two different stories: IHD led by 91.9 percentage points, +42.2% for IHD against -49.7% for VXX. One caveat on sizing: VXX is 3.7 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.
IHD vs VXX: side by side
| IHD (Voya Emerging Markets High Income Dividend Equity Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.2% | -49.7% |
| 5-year return | +78.4% | -95.6% |
| Volatility (ann.) | 16.6% | 60.9% |
| Beta vs S&P 500 | 0.65 | -3.31 |
| Max drawdown (3Y) | -14.3% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 3.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IHD | VXX |
|---|---|---|
| 2022 | -17.2% | -23.8% |
| 2023 | +13.9% | -72.5% |
| 2024 | +6.7% | -26.2% |
| 2025 | +40.3% | -42.2% |
| 2026 | +29.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IHD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between IHD and VXX?
As of 2026-08-27, the correlation of weekly returns between IHD and VXX is -0.47 over 3 years, -0.61 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for IHD?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
A reading of -0.47 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/ihd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ihd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IHD correlations · VXX correlations
