RMI vs VXX: Correlation
Measured on weekly returns over the past three years, RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMI and VXX?
On 3 years of weekly data the RMI/VXX correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -320.3 %².
Out of 10 assets tracked against RMI, VXX lands near the bottom at #9. The last year tells two different stories: RMI led by 67.5 percentage points, +17.8% for RMI against -49.7% for VXX. Risk is not evenly split, since VXX carries 4.4 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.
RMI vs VXX: side by side
| RMI (RiverNorth Opportunistic Municipal Income Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.8% | -49.7% |
| 5-year return | -3.9% | -95.6% |
| Volatility (ann.) | 13.7% | 60.9% |
| Beta vs S&P 500 | 0.36 | -3.31 |
| Max drawdown (3Y) | -17.2% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 126.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMI | VXX |
|---|---|---|
| 2022 | -21.3% | -23.8% |
| 2023 | +0.2% | -72.5% |
| 2024 | +6.3% | -26.2% |
| 2025 | +2.7% | -42.2% |
| 2026 | +10.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between RMI and VXX?
The RMI/VXX correlation stands at -0.38 on a 3-year window (1 year: -0.30, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for RMI?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 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/rmi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RMI correlations · VXX correlations
