CBFV vs VXX: Correlation
Measured on weekly returns over the past three years, CB Financial Services, Inc. (CBFV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBFV and VXX?
On 3 years of weekly data the CBFV/VXX correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.35 over 3. The 5-year figure is -0.29, and annualized covariance runs at -542.4 %².
VXX is close to the least connected end of CBFV's tracked universe, ranking #9 of 10. The last year tells two different stories: CBFV led by 66.9 percentage points, +17.2% for CBFV against -49.7% for VXX. One caveat on sizing: VXX is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CBFV vs VXX: side by side
| CBFV (CB Financial Services, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.2% | -49.7% |
| 5-year return | +97.7% | -95.6% |
| Volatility (ann.) | 25.3% | 60.9% |
| Beta vs S&P 500 | 0.46 | -3.31 |
| Max drawdown (3Y) | -21.1% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBFV | VXX |
|---|---|---|
| 2022 | -7.2% | -23.8% |
| 2023 | +16.5% | -72.5% |
| 2024 | +25.1% | -26.2% |
| 2025 | +26.0% | -42.2% |
| 2026 | +9.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBFV and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBFV and VXX?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.27 over the last year and -0.29 over 5 years.
Is VXX a good diversifier for CBFV?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbfv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbfv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CBFV correlations · VXX correlations
