CART vs VXX: Correlation
Measured on weekly returns over the past three years, Maplebear Inc. (CART) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CART and VXX?
On 3 years of weekly data the CART/VXX correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -682.6 %².
Out of 11 assets tracked against CART, VXX lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with CART ahead by 66.3 points (+16.6% versus -49.7%). Risk is not evenly split, since VXX carries 1.5 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.
CART vs VXX: side by side
| CART (Maplebear Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.6% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 39.6% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -38.0% | -83.3% |
| Market cap | $11.7B | – |
| P/E (trailing) | 27.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CART | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | +76.5% | -26.2% |
| 2025 | +8.6% | -42.2% |
| 2026 | +12.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CART and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, CART and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CART and VXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.24 over the last year and n/a over 5 years.
Is VXX a good diversifier for CART?
Yes. With a correlation of -0.28, CART and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cart-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cart-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CART correlations · VXX correlations
