SBI vs VXX: Correlation
Measured on weekly returns over the past three years, Western Asset Intermediate Muni Fund Inc (SBI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBI and VXX?
Over the past 3 years, SBI and VXX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.38) sits close to the 3-year figure. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -150.8 %².
Out of 14 assets tracked against SBI, VXX lands near the bottom at #13. The last year tells two different stories: SBI led by 56.0 percentage points, +6.3% for SBI against -49.7% for VXX. One caveat on sizing: VXX is 7.7 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.
SBI vs VXX: side by side
| SBI (Western Asset Intermediate Muni Fund Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.3% | -49.7% |
| 5-year return | +0.9% | -95.6% |
| Volatility (ann.) | 7.9% | 60.9% |
| Beta vs S&P 500 | 0.19 | -3.31 |
| Max drawdown (3Y) | -7.9% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 3.31% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBI | VXX |
|---|---|---|
| 2022 | -18.4% | -23.8% |
| 2023 | +5.4% | -72.5% |
| 2024 | +6.8% | -26.2% |
| 2025 | +5.9% | -42.2% |
| 2026 | +3.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBI and VXX good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SBI and VXX?
As of 2026-08-27, the correlation of weekly returns between SBI and VXX is -0.31 over 3 years, -0.38 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for SBI?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sbi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sbi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SBI correlations · VXX correlations
