JQC vs VXZ: Correlation
Measured on weekly returns over the past three years, Nuveen Credit Strategies Income Fund Shares of Beneficial (JQC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JQC and VXZ?
On 3 years of weekly data the JQC/VXZ correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. The 5-year figure is -0.47, and annualized covariance runs at -132.9 %².
VXZ is close to the least connected end of JQC's tracked universe, ranking #14 of 14. Over the last 12 months JQC came out ahead by 13.8 percentage points (-2.3% against -16.1%). Risk is not evenly split, since VXZ carries 2.3 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.
JQC vs VXZ: side by side
| JQC (Nuveen Credit Strategies Income Fund Shares of Beneficial) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.3% | -16.1% |
| 5-year return | +26.7% | -53.1% |
| Volatility (ann.) | 11.1% | 25.6% |
| Beta vs S&P 500 | 0.41 | -1.31 |
| Max drawdown (3Y) | -15.4% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 13.64% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JQC | VXZ |
|---|---|---|
| 2022 | -14.2% | +0.5% |
| 2023 | +15.4% | -44.0% |
| 2024 | +22.3% | -12.7% |
| 2025 | -0.4% | +5.7% |
| 2026 | +2.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JQC and VXZ 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 JQC and VXZ?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.43 over the last year and -0.47 over 5 years.
Is VXZ a good diversifier for JQC?
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/jqc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jqc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JQC correlations · VXZ correlations
