C vs VXX: Correlation
Citigroup (C) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are C and VXX?
Across a 3-year window, the weekly returns of C and VXX correlate at -0.66, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.54 versus -0.66 over 3 years. Stretching to 5 years gives -0.55, with an annualized covariance of -1216.2 %².
Among the 33 assets we track against C, VXX sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with C ahead by 89.6 points (+39.9% versus -49.7%). Risk is not evenly split, since VXX carries 2.0 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.
C vs VXX: side by side
| C (Citigroup) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.9% | -49.7% |
| 5-year return | +119.6% | -95.6% |
| Volatility (ann.) | 30.3% | 60.9% |
| Beta vs S&P 500 | 1.39 | -3.31 |
| Max drawdown (3Y) | -31.3% | -83.3% |
| Market cap | $222.6B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 1.80% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | C | VXX |
|---|---|---|
| 2022 | -22.1% | -23.8% |
| 2023 | +19.0% | -72.5% |
| 2024 | +41.9% | -26.2% |
| 2025 | +70.4% | -42.2% |
| 2026 | +15.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are C and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.66 means the two rarely move for the same reasons.
FAQ
What is the correlation between C and VXX?
As of 2026-08-27, the correlation of weekly returns between C and VXX is -0.66 over 3 years, -0.54 over 1 year and -0.55 over 5 years.
Is VXX a good diversifier for C?
By historical standards, yes. A correlation of -0.66 means the two rarely move for the same reasons.
What does a correlation of -0.66 mean?
A reading of -0.66 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/c-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/c-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: C correlations · VXX correlations
