PGP vs VXX: Correlation
Measured on weekly returns over the past three years, Pimco Global StocksPlus & Income Fund (PGP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGP and VXX?
Over the past 3 years, PGP and VXX moved with a correlation of -0.50, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.69) runs below the 3-year figure (-0.50). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -508.6 %².
Among the 12 assets we track against PGP, VXX sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with PGP ahead by 63.2 points (+13.5% versus -49.7%). Risk is not evenly split, since VXX carries 3.6 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.
PGP vs VXX: side by side
| PGP (Pimco Global StocksPlus & Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.5% | -49.7% |
| 5-year return | +30.7% | -95.6% |
| Volatility (ann.) | 16.8% | 60.9% |
| Beta vs S&P 500 | 0.58 | -3.31 |
| Max drawdown (3Y) | -16.1% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 4.2 | – |
| Dividend yield | 9.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PGP | VXX |
|---|---|---|
| 2022 | -29.2% | -23.8% |
| 2023 | +21.3% | -72.5% |
| 2024 | +15.5% | -26.2% |
| 2025 | +29.9% | -42.2% |
| 2026 | +1.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGP and VXX good diversifiers for each other?
Yes. With a correlation of -0.50, PGP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PGP and VXX?
The PGP/VXX correlation stands at -0.50 on a 3-year window (1 year: -0.69, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PGP?
Yes. With a correlation of -0.50, PGP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
A reading of -0.50 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/pgp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pgp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PGP correlations · VXX correlations
