PAXS vs VXX: Correlation
How closely do PIMCO Access Income Fund (PAXS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAXS and VXX?
Over the past 3 years, PAXS and VXX moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.49 lands near the 3-year figure. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -404.5 %².
Among the 10 assets we track against PAXS, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months PAXS outperformed by 49.4 percentage points (-0.3% for PAXS against -49.7% for VXX). One caveat on sizing: VXX is 4.2 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.
PAXS vs VXX: side by side
| PAXS (PIMCO Access Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.3% | -49.7% |
| 5-year return | +20.5% | -95.6% |
| Volatility (ann.) | 14.6% | 60.9% |
| Beta vs S&P 500 | 0.48 | -3.31 |
| Max drawdown (3Y) | -13.4% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAXS | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | +9.3% | -72.5% |
| 2024 | +19.5% | -26.2% |
| 2025 | +12.5% | -42.2% |
| 2026 | +0.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAXS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between PAXS and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.49 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for PAXS?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 mean?
A reading of -0.46 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/paxs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/paxs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAXS correlations · VXX correlations
