CBNK vs VXX: Correlation
Measured on weekly returns over the past three years, Capital Bancorp, Inc. (CBNK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBNK and VXX?
Over the past 3 years, CBNK and VXX moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.27) than the 3-year average (-0.39). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -651.3 %².
Out of 18 assets tracked against CBNK, VXX lands near the bottom at #17. Their recent paths diverged sharply: over the last 12 months CBNK outperformed by 57.0 percentage points (+7.3% for CBNK against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.2 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.
CBNK vs VXX: side by side
| CBNK (Capital Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.3% | -49.7% |
| 5-year return | +69.0% | -95.6% |
| Volatility (ann.) | 27.3% | 60.9% |
| Beta vs S&P 500 | 0.63 | -3.31 |
| Max drawdown (3Y) | -24.8% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 1.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBNK | VXX |
|---|---|---|
| 2022 | -9.3% | -23.8% |
| 2023 | +4.3% | -72.5% |
| 2024 | +19.7% | -26.2% |
| 2025 | +0.3% | -42.2% |
| 2026 | +30.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBNK and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, CBNK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CBNK and VXX?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.27 over the last year and -0.39 over 5 years.
Is VXX a good diversifier for CBNK?
Yes. With a correlation of -0.39, CBNK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/cbnk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbnk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CBNK correlations · VXX correlations
