CARG vs VXX: Correlation
Measured on weekly returns over the past three years, CarGurus, Inc. (CARG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and VXX?
Across a 3-year window, the weekly returns of CARG and VXX correlate at -0.39, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.39). Stretching to 5 years gives -0.36, with an annualized covariance of -941.1 %².
Out of 17 assets tracked against CARG, VXX lands near the bottom at #16. The last year tells two different stories: CARG led by 55.8 percentage points, +6.1% for CARG against -49.7% for VXX. One caveat on sizing: VXX is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CARG vs VXX: side by side
| CARG (CarGurus, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.1% | -49.7% |
| 5-year return | +17.1% | -95.6% |
| Volatility (ann.) | 39.4% | 60.9% |
| Beta vs S&P 500 | 1.12 | -3.31 |
| Max drawdown (3Y) | -37.9% | -83.3% |
| Market cap | $3.2B | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARG | VXX |
|---|---|---|
| 2022 | -58.4% | -23.8% |
| 2023 | +72.4% | -72.5% |
| 2024 | +51.2% | -26.2% |
| 2025 | +5.0% | -42.2% |
| 2026 | -5.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and VXX 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 CARG and VXX?
As of 2026-08-27, the correlation of weekly returns between CARG and VXX is -0.39 over 3 years, -0.13 over 1 year and -0.36 over 5 years.
Is VXX a good diversifier for CARG?
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?
On the −1 to +1 scale, -0.39 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/carg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/carg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CARG correlations · VXX correlations
