CAE vs VXZ: Correlation
CAE Inc (CAE) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAE and VXZ?
Across a 3-year window, the weekly returns of CAE and VXZ correlate at -0.39, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.45 over 1 year against -0.39 over 3. Stretching to 5 years gives -0.40, with an annualized covariance of -291.5 %².
Among the 10 assets we track against CAE, VXZ sits near the bottom by co-movement, at rank #9. On 12-month performance CAE holds a 8.3-point edge, -7.8% against -16.1%.
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.
CAE vs VXZ: side by side
| CAE (CAE Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.8% | -16.1% |
| 5-year return | -12.4% | -53.1% |
| Volatility (ann.) | 29.6% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -34.6% | -36.4% |
| Market cap | $8.0B | – |
| P/E (trailing) | 38.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAE | VXZ |
|---|---|---|
| 2022 | -23.4% | +0.5% |
| 2023 | +11.6% | -44.0% |
| 2024 | +17.6% | -12.7% |
| 2025 | +19.9% | +5.7% |
| 2026 | -18.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAE and VXZ good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CAE and VXZ?
As of 2026-08-27, the correlation of weekly returns between CAE and VXZ is -0.39 over 3 years, -0.45 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for CAE?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
A reading of -0.39 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/cae-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cae-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAE correlations · VXZ correlations
