TSI vs VXX: Correlation
How closely do TCW Strategic Income Fund, Inc. (TSI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TSI and VXX?
Across a 3-year window, the weekly returns of TSI and VXX correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.29). Stretching to 5 years gives -0.28, with an annualized covariance of -121.2 %².
Out of 10 assets tracked against TSI, VXX lands near the bottom at #8. Correlation aside, the last 12 months split them widely, with TSI ahead by 46.8 points (-2.9% versus -49.7%). Note the risk asymmetry: VXX runs 8.8 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.
TSI vs VXX: side by side
| TSI (TCW Strategic Income Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.9% | -49.7% |
| 5-year return | +12.9% | -95.6% |
| Volatility (ann.) | 6.9% | 60.9% |
| Beta vs S&P 500 | 0.21 | -3.31 |
| Max drawdown (3Y) | -8.3% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 5.91% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TSI | VXX |
|---|---|---|
| 2022 | -12.8% | -23.8% |
| 2023 | +7.1% | -72.5% |
| 2024 | +13.5% | -26.2% |
| 2025 | +9.7% | -42.2% |
| 2026 | -6.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TSI and VXX good diversifiers for each other?
Yes. With a correlation of -0.29, TSI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TSI and VXX?
As of 2026-08-27, the correlation of weekly returns between TSI and VXX is -0.29 over 3 years, -0.40 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for TSI?
Yes. With a correlation of -0.29, TSI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/tsi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tsi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TSI correlations · VXX correlations
