CAL vs VXX: Correlation
Measured on weekly returns over the past three years, Caleres, Inc. (CAL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAL and VXX?
On 3 years of weekly data the CAL/VXX correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. The 5-year figure is -0.34, and annualized covariance runs at -1127.4 %².
VXX is close to the least connected end of CAL's tracked universe, ranking #16 of 16. Correlation aside, the last 12 months split them widely, with CAL ahead by 32.3 points (-17.4% versus -49.7%).
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.
CAL vs VXX: side by side
| CAL (Caleres, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.4% | -49.7% |
| 5-year return | -45.9% | -95.6% |
| Volatility (ann.) | 55.9% | 60.9% |
| Beta vs S&P 500 | 1.37 | -3.31 |
| Max drawdown (3Y) | -79.4% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAL | VXX |
|---|---|---|
| 2022 | -0.6% | -23.8% |
| 2023 | +39.4% | -72.5% |
| 2024 | -23.9% | -26.2% |
| 2025 | -46.4% | -42.2% |
| 2026 | +4.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAL and VXX good diversifiers for each other?
Yes. With a correlation of -0.33, CAL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CAL and VXX?
The CAL/VXX correlation stands at -0.33 on a 3-year window (1 year: -0.39, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CAL?
Yes. With a correlation of -0.33, CAL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 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/cal-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cal-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAL correlations · VXX correlations
