JCE vs VXX: Correlation
Measured on weekly returns over the past three years, Nuveen Core Equity Alpha Fund (JCE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.72, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JCE and VXX?
Over the past 3 years, JCE and VXX moved with a correlation of -0.72, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.74 over 1 year against -0.72 over 3. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -691.2 %².
Among the 17 assets we track against JCE, VXX sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months JCE outperformed by 67.8 percentage points (+18.1% for JCE against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.9 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.
JCE vs VXX: side by side
| JCE (Nuveen Core Equity Alpha Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.1% | -49.7% |
| 5-year return | +72.6% | -95.6% |
| Volatility (ann.) | 15.7% | 60.9% |
| Beta vs S&P 500 | 0.91 | -3.31 |
| Max drawdown (3Y) | -19.0% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JCE | VXX |
|---|---|---|
| 2022 | -14.3% | -23.8% |
| 2023 | +10.7% | -72.5% |
| 2024 | +27.9% | -26.2% |
| 2025 | +9.1% | -42.2% |
| 2026 | +11.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JCE and VXX good diversifiers for each other?
Yes. With a correlation of -0.72, JCE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JCE and VXX?
Using weekly returns as of 2026-08-27: -0.72 over 3 years, with -0.74 over the last year and -0.41 over 5 years.
Is VXX a good diversifier for JCE?
Yes. With a correlation of -0.72, JCE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.72 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/jce-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jce-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JCE correlations · VXX correlations
