PCN vs VXX: Correlation
Measured on weekly returns over the past three years, Pimco Corporate & Income Strategy Fund (PCN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCN and VXX?
On 3 years of weekly data the PCN/VXX correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.54) runs below the 3-year figure (-0.41). The 5-year figure is -0.37, and annualized covariance runs at -366.8 %².
Among the 11 assets we track against PCN, VXX sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with PCN ahead by 50.8 points (+1.1% versus -49.7%). Risk is not evenly split, since VXX carries 4.1 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.
PCN vs VXX: side by side
| PCN (Pimco Corporate & Income Strategy Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.1% | -49.7% |
| 5-year return | +8.7% | -95.6% |
| Volatility (ann.) | 14.8% | 60.9% |
| Beta vs S&P 500 | 0.48 | -3.31 |
| Max drawdown (3Y) | -22.0% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 9.2 | – |
| Dividend yield | 11.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCN | VXX |
|---|---|---|
| 2022 | -22.9% | -23.8% |
| 2023 | +16.3% | -72.5% |
| 2024 | +19.6% | -26.2% |
| 2025 | +5.6% | -42.2% |
| 2026 | -0.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCN and VXX good diversifiers for each other?
Yes. With a correlation of -0.41, PCN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PCN and VXX?
As of 2026-08-27, the correlation of weekly returns between PCN and VXX is -0.41 over 3 years, -0.54 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for PCN?
Yes. With a correlation of -0.41, PCN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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/pcn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pcn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PCN correlations · VXX correlations
