RCS vs VXZ: Correlation
PIMCO Strategic Income Fund, Inc. (RCS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RCS and VXZ?
On 3 years of weekly data the RCS/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.34 over 3. The 5-year figure is -0.38, and annualized covariance runs at -236.2 %².
VXZ is close to the least connected end of RCS's tracked universe, ranking #11 of 12. Their 12-month results are close: -20.8% for RCS against -16.1% for VXZ.
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.
RCS vs VXZ: side by side
| RCS (PIMCO Strategic Income Fund, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.8% | -16.1% |
| 5-year return | +5.4% | -53.1% |
| Volatility (ann.) | 27.0% | 25.6% |
| Beta vs S&P 500 | 0.77 | -1.31 |
| Max drawdown (3Y) | -32.9% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 6.9 | – |
| Dividend yield | 9.11% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RCS | VXZ |
|---|---|---|
| 2022 | -19.5% | +0.5% |
| 2023 | +37.6% | -44.0% |
| 2024 | +37.5% | -12.7% |
| 2025 | -21.5% | +5.7% |
| 2026 | +0.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RCS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, RCS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RCS and VXZ?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.43 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for RCS?
Yes. With a correlation of -0.34, RCS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
A reading of -0.34 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/rcs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rcs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RCS correlations · VXZ correlations
