CAC vs VXX: Correlation
How closely do Camden National Corporation (CAC) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAC and VXX?
Over the past 3 years, CAC and VXX moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.48 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -855.0 %².
Out of 24 assets tracked against CAC, VXX lands near the bottom at #23. The last year tells two different stories: CAC led by 93.0 percentage points, +43.3% for CAC against -49.7% for VXX. Risk is not evenly split, since VXX 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.
CAC vs VXX: side by side
| CAC (Camden National Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.3% | -49.7% |
| 5-year return | +51.3% | -95.6% |
| Volatility (ann.) | 29.0% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -26.0% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 2.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAC | VXX |
|---|---|---|
| 2022 | -10.3% | -23.8% |
| 2023 | -5.0% | -72.5% |
| 2024 | +19.1% | -26.2% |
| 2025 | +5.8% | -42.2% |
| 2026 | +34.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAC and VXX good diversifiers for each other?
Yes. With a correlation of -0.48, CAC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CAC and VXX?
As of 2026-08-27, the correlation of weekly returns between CAC and VXX is -0.48 over 3 years, -0.25 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for CAC?
Yes. With a correlation of -0.48, CAC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
A reading of -0.48 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/cac-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cac-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
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Hubs: CAC correlations · VXX correlations
