CABA vs VXZ: Correlation
Cabaletta Bio, Inc. (CABA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CABA and VXZ?
Across a 3-year window, the weekly returns of CABA and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.35). Stretching to 5 years gives -0.30, with an annualized covariance of -1115.0 %².
Among the 14 assets we track against CABA, VXZ sits near the bottom by co-movement, at rank #14. The last year tells two different stories: CABA led by 141.4 percentage points, +125.3% for CABA against -16.1% for VXZ. Note the risk asymmetry: CABA runs 4.9 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.
CABA vs VXZ: side by side
| CABA (Cabaletta Bio, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +125.3% | -16.1% |
| 5-year return | -66.5% | -53.1% |
| Volatility (ann.) | 125.4% | 25.6% |
| Beta vs S&P 500 | 3.70 | -1.31 |
| Max drawdown (3Y) | -95.9% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CABA | VXZ |
|---|---|---|
| 2022 | +144.1% | +0.5% |
| 2023 | +145.4% | -44.0% |
| 2024 | -90.0% | -12.7% |
| 2025 | -3.5% | +5.7% |
| 2026 | +54.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CABA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.35, CABA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CABA and VXZ?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.23 over the last year and -0.30 over 5 years.
Is VXZ a good diversifier for CABA?
Yes. With a correlation of -0.35, CABA and VXZ 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caba-vs-vxz/)
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Related comparisons
Hubs: CABA correlations · VXZ correlations
