CAVA vs VXX: Correlation
CAVA Group, Inc. (CAVA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAVA and VXX?
Across a 3-year window, the weekly returns of CAVA and VXX correlate at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1086.0 %².
Out of 13 assets tracked against CAVA, VXX lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with CAVA ahead by 48.5 points (-1.2% 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.
CAVA vs VXX: side by side
| CAVA (CAVA Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.2% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 59.9% | 60.9% |
| Beta vs S&P 500 | 1.78 | -3.31 |
| Max drawdown (3Y) | -71.1% | -83.3% |
| Market cap | $7.8B | – |
| P/E (trailing) | 119.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAVA | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | +162.4% | -26.2% |
| 2025 | -48.0% | -42.2% |
| 2026 | +14.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAVA and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between CAVA and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.27 over the last year and n/a over 5 years.
Is VXX a good diversifier for CAVA?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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/cava-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cava-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAVA correlations · VXX correlations
