MEGI vs VXX: Correlation
Measured on weekly returns over the past three years, NYLI CBRE Global Infrastructure Megatrends Term Fund (MEGI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEGI and VXX?
Across a 3-year window, the weekly returns of MEGI and VXX correlate at -0.39, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. Stretching to 5 years gives -0.40, with an annualized covariance of -466.8 %².
Among the 29 assets we track against MEGI, VXX sits near the bottom by co-movement, at rank #28. Correlation aside, the last 12 months split them widely, with MEGI ahead by 64.4 points (+14.7% versus -49.7%). Risk is not evenly split, since VXX carries 3.1 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.
MEGI vs VXX: side by side
| MEGI (NYLI CBRE Global Infrastructure Megatrends Term Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.7% | -49.7% |
| 5-year return | +20.7% | -95.6% |
| Volatility (ann.) | 19.4% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -17.4% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 4.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEGI | VXX |
|---|---|---|
| 2022 | -23.3% | -23.8% |
| 2023 | +5.5% | -72.5% |
| 2024 | +5.2% | -26.2% |
| 2025 | +26.2% | -42.2% |
| 2026 | +16.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEGI and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, MEGI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MEGI and VXX?
As of 2026-08-27, the correlation of weekly returns between MEGI and VXX is -0.39 over 3 years, -0.40 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for MEGI?
Yes. With a correlation of -0.39, MEGI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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/megi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/megi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MEGI correlations · VXX correlations
