PCF vs VXX: Correlation
High Income Securities Fund (PCF) 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 -0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCF and VXX?
Across a 3-year window, the weekly returns of PCF and VXX correlate at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.29 versus -0.49 over 3 years. Stretching to 5 years gives -0.43, with an annualized covariance of -384.8 %².
VXX is close to the least connected end of PCF's tracked universe, ranking #10 of 11. Correlation aside, the last 12 months split them widely, with PCF ahead by 45.8 points (-3.9% versus -49.7%). One caveat on sizing: VXX is 4.8 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.
PCF vs VXX: side by side
| PCF (High Income Securities Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.9% | -49.7% |
| 5-year return | -2.1% | -95.6% |
| Volatility (ann.) | 12.8% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -13.8% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 13.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCF | VXX |
|---|---|---|
| 2022 | -15.6% | -23.8% |
| 2023 | +10.4% | -72.5% |
| 2024 | +13.8% | -26.2% |
| 2025 | +5.2% | -42.2% |
| 2026 | -3.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCF and VXX good diversifiers for each other?
Yes. With a correlation of -0.49, PCF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PCF and VXX?
As of 2026-08-27, the correlation of weekly returns between PCF and VXX is -0.49 over 3 years, -0.29 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for PCF?
Yes. With a correlation of -0.49, PCF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pcf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pcf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PCF correlations · VXX correlations
