PFL vs VXX: Correlation
How closely do PIMCO Income Strategy Fund Shares of Beneficial Interest (PFL) 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 -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFL and VXX?
Across a 3-year window, the weekly returns of PFL and VXX correlate at -0.40, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Stretching to 5 years gives -0.37, with an annualized covariance of -293.3 %².
Among the 22 assets we track against PFL, VXX sits near the bottom by co-movement, at rank #21. The last year tells two different stories: PFL led by 50.8 percentage points, +1.1% for PFL against -49.7% for VXX. One caveat on sizing: VXX is 5.1 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.
PFL vs VXX: side by side
| PFL (PIMCO Income Strategy Fund Shares of Beneficial Interest) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.1% | -49.7% |
| 5-year return | +1.9% | -95.6% |
| Volatility (ann.) | 12.0% | 60.9% |
| Beta vs S&P 500 | 0.39 | -3.31 |
| Max drawdown (3Y) | -11.1% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 9.6 | – |
| Dividend yield | 12.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFL | VXX |
|---|---|---|
| 2022 | -18.0% | -23.8% |
| 2023 | +17.2% | -72.5% |
| 2024 | +11.4% | -26.2% |
| 2025 | +13.0% | -42.2% |
| 2026 | -2.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between PFL and VXX?
The PFL/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.35, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PFL?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 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/pfl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PFL correlations · VXX correlations
