SWZ vs VXX: Correlation
Measured on weekly returns over the past three years, Total Return Securities Fund (SWZ) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SWZ and VXX?
Across a 3-year window, the weekly returns of SWZ and VXX correlate at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.56) than the 3-year average (-0.34). Stretching to 5 years gives -0.40, with an annualized covariance of -285.2 %².
Among the 14 assets we track against SWZ, VXX sits near the bottom by co-movement, at rank #14. The last year tells two different stories: SWZ led by 48.5 percentage points, -1.2% for SWZ against -49.7% for VXX. Note the risk asymmetry: VXX runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SWZ vs VXX: side by side
| SWZ (Total Return Securities Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.2% | -49.7% |
| 5-year return | +13.9% | -95.6% |
| Volatility (ann.) | 13.7% | 60.9% |
| Beta vs S&P 500 | 0.41 | -3.31 |
| Max drawdown (3Y) | -15.5% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 4.3 | – |
| Dividend yield | 2.45% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SWZ | VXX |
|---|---|---|
| 2022 | -17.7% | -23.8% |
| 2023 | +15.5% | -72.5% |
| 2024 | -2.5% | -26.2% |
| 2025 | +24.1% | -42.2% |
| 2026 | -3.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SWZ and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between SWZ and VXX?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.56 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for SWZ?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 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/swz-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/swz-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SWZ correlations · VXX correlations
