PDX vs VXX: Correlation
PIMCO Dynamic Income Strategy Fund (PDX) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDX and VXX?
Over the past 3 years, PDX and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.27 over 3 years. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -430.7 %².
VXX is close to the least connected end of PDX's tracked universe, ranking #10 of 12. Correlation aside, the last 12 months split them widely, with PDX ahead by 60.6 points (+10.9% versus -49.7%). Risk is not evenly split, since VXX 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.
PDX vs VXX: side by side
| PDX (PIMCO Dynamic Income Strategy Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.9% | -49.7% |
| 5-year return | +203.4% | -95.6% |
| Volatility (ann.) | 26.1% | 60.9% |
| Beta vs S&P 500 | 0.40 | -3.31 |
| Max drawdown (3Y) | -37.2% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDX | VXX |
|---|---|---|
| 2022 | +23.0% | -23.8% |
| 2023 | +44.5% | -72.5% |
| 2024 | +37.0% | -26.2% |
| 2025 | -10.6% | -42.2% |
| 2026 | +21.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDX and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PDX and VXX?
As of 2026-08-27, the correlation of weekly returns between PDX and VXX is -0.27 over 3 years, -0.04 over 1 year and -0.32 over 5 years.
Is VXX a good diversifier for PDX?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 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/pdx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pdx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PDX correlations · VXX correlations
