CBFV vs VXZ: Correlation
Measured on weekly returns over the past three years, CB Financial Services, Inc. (CBFV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) 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 VXZ?
On 3 years of weekly data the CBFV/VXZ correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.35 over 3. The 5-year figure is -0.31, and annualized covariance runs at -225.6 %².
Among the 10 assets we track against CBFV, VXZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with CBFV ahead by 33.3 points (+17.2% 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.
CBFV vs VXZ: side by side
| CBFV (CB Financial Services, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.2% | -16.1% |
| 5-year return | +97.7% | -53.1% |
| Volatility (ann.) | 25.3% | 25.6% |
| Beta vs S&P 500 | 0.46 | -1.31 |
| Max drawdown (3Y) | -21.1% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 2.89% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBFV | VXZ |
|---|---|---|
| 2022 | -7.2% | +0.5% |
| 2023 | +16.5% | -44.0% |
| 2024 | +25.1% | -12.7% |
| 2025 | +26.0% | +5.7% |
| 2026 | +9.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBFV and VXZ 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 VXZ?
As of 2026-08-27, the correlation of weekly returns between CBFV and VXZ is -0.35 over 3 years, -0.39 over 1 year and -0.31 over 5 years.
Is VXZ 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbfv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBFV correlations · VXZ correlations
