CB vs VXZ: Correlation
Measured on weekly returns over the past three years, Chubb Limited (CB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CB and VXZ?
On 3 years of weekly data the CB/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.29). The 5-year figure is -0.36, and annualized covariance runs at -133.3 %².
Among the 37 assets we track against CB, VXZ sits near the bottom by co-movement, at rank #37. Their recent paths diverged sharply: over the last 12 months CB outperformed by 40.8 percentage points (+24.7% for CB against -16.1% for VXZ).
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 VXZ: side by side
| CB (Chubb Limited) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.7% | -16.1% |
| 5-year return | +96.8% | -53.1% |
| Volatility (ann.) | 17.7% | 25.6% |
| Beta vs S&P 500 | 0.17 | -1.31 |
| Max drawdown (3Y) | -14.4% | -36.4% |
| Market cap | $130.5B | – |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 1.14% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CB | VXZ |
|---|---|---|
| 2022 | +16.0% | +0.5% |
| 2023 | +4.2% | -44.0% |
| 2024 | +23.9% | -12.7% |
| 2025 | +13.7% | +5.7% |
| 2026 | +9.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CB and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between CB and VXZ?
As of 2026-08-27, the correlation of weekly returns between CB and VXZ is -0.29 over 3 years, -0.13 over 1 year and -0.36 over 5 years.
Is VXZ a good diversifier for CB?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CB correlations · VXZ correlations
