CB vs VXX: Correlation
How closely do Chubb Limited (CB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CB and VXX?
Over the past 3 years, CB and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.23 over 3 years. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -252.8 %².
By 3-year correlation, VXX places #32 of the 37 assets tracked against CB. The last year tells two different stories: CB led by 74.4 percentage points, +24.7% for CB against -49.7% for VXX. Note the risk asymmetry: VXX runs 3.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CB vs VXX: side by side
| CB (Chubb Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.7% | -49.7% |
| 5-year return | +96.8% | -95.6% |
| Volatility (ann.) | 17.7% | 60.9% |
| Beta vs S&P 500 | 0.17 | -3.31 |
| Max drawdown (3Y) | -14.4% | -83.3% |
| Market cap | $130.5B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 1.14% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CB | VXX |
|---|---|---|
| 2022 | +16.0% | -23.8% |
| 2023 | +4.2% | -72.5% |
| 2024 | +23.9% | -26.2% |
| 2025 | +13.7% | -42.2% |
| 2026 | +9.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CB and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, CB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CB and VXX?
The CB/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.09, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CB?
Yes. With a correlation of -0.23, CB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/cb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CB correlations · VXX correlations
