CBNK vs VXZ: Correlation
Capital Bancorp, Inc. (CBNK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBNK and VXZ?
Over the past 3 years, CBNK and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.40 over 3. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -276.5 %².
VXZ is close to the least connected end of CBNK's tracked universe, ranking #18 of 18. Correlation aside, the last 12 months split them widely, with CBNK ahead by 23.4 points (+7.3% 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.
CBNK vs VXZ: side by side
| CBNK (Capital Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.3% | -16.1% |
| 5-year return | +69.0% | -53.1% |
| Volatility (ann.) | 27.3% | 25.6% |
| Beta vs S&P 500 | 0.63 | -1.31 |
| Max drawdown (3Y) | -24.8% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 1.32% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBNK | VXZ |
|---|---|---|
| 2022 | -9.3% | +0.5% |
| 2023 | +4.3% | -44.0% |
| 2024 | +19.7% | -12.7% |
| 2025 | +0.3% | +5.7% |
| 2026 | +30.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBNK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBNK and VXZ?
The CBNK/VXZ correlation stands at -0.40 on a 3-year window (1 year: -0.41, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CBNK?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cbnk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbnk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBNK correlations · VXZ correlations
