CABA vs VXX: Correlation
Measured on weekly returns over the past three years, Cabaletta Bio, Inc. (CABA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CABA and VXX?
Across a 3-year window, the weekly returns of CABA and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.35). Stretching to 5 years gives -0.30, with an annualized covariance of -2662.1 %².
Among the 14 assets we track against CABA, VXX sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with CABA ahead by 175.0 points (+125.3% versus -49.7%). Risk is not evenly split, since CABA carries 2.1 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.
CABA vs VXX: side by side
| CABA (Cabaletta Bio, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +125.3% | -49.7% |
| 5-year return | -66.5% | -95.6% |
| Volatility (ann.) | 125.4% | 60.9% |
| Beta vs S&P 500 | 3.70 | -3.31 |
| Max drawdown (3Y) | -95.9% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CABA | VXX |
|---|---|---|
| 2022 | +144.1% | -23.8% |
| 2023 | +145.4% | -72.5% |
| 2024 | -90.0% | -26.2% |
| 2025 | -3.5% | -42.2% |
| 2026 | +54.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CABA and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, CABA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CABA and VXX?
The CABA/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.18, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CABA?
Yes. With a correlation of -0.35, CABA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 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/caba-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caba-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CABA correlations · VXX correlations
