CATY vs VXZ: Correlation
Cathay General Bancorp (CATY) 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 -0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CATY and VXZ?
Across a 3-year window, the weekly returns of CATY and VXZ correlate at -0.54, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.41 versus -0.54 over 3 years. Stretching to 5 years gives -0.52, with an annualized covariance of -371.0 %².
VXZ is close to the least connected end of CATY's tracked universe, ranking #28 of 28. Correlation aside, the last 12 months split them widely, with CATY ahead by 42.8 points (+26.7% versus -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.
CATY vs VXZ: side by side
| CATY (Cathay General Bancorp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.7% | -16.1% |
| 5-year return | +83.2% | -53.1% |
| Volatility (ann.) | 26.8% | 25.6% |
| Beta vs S&P 500 | 0.82 | -1.31 |
| Max drawdown (3Y) | -29.7% | -36.4% |
| Market cap | $4.1B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.39% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CATY | VXZ |
|---|---|---|
| 2022 | -2.1% | +0.5% |
| 2023 | +13.5% | -44.0% |
| 2024 | +10.3% | -12.7% |
| 2025 | +4.6% | +5.7% |
| 2026 | +30.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CATY and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.54 means the two rarely move for the same reasons.
FAQ
What is the correlation between CATY and VXZ?
The CATY/VXZ correlation stands at -0.54 on a 3-year window (1 year: -0.41, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CATY?
By historical standards, yes. A correlation of -0.54 means the two rarely move for the same reasons.
What does a correlation of -0.54 mean?
On the −1 to +1 scale, -0.54 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/caty-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caty-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CATY correlations · VXZ correlations
