CBSH vs VXX: Correlation
Commerce Bancshares, Inc. (CBSH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBSH and VXX?
On 3 years of weekly data the CBSH/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.14 versus -0.46 over 3 years. The 5-year figure is -0.43, and annualized covariance runs at -638.8 %².
Out of 13 assets tracked against CBSH, VXX lands near the bottom at #12. The last year tells two different stories: CBSH led by 48.7 percentage points, -1.0% for CBSH against -49.7% for VXX. One caveat on sizing: VXX is 2.7 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.
CBSH vs VXX: side by side
| CBSH (Commerce Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.0% | -49.7% |
| 5-year return | +10.0% | -95.6% |
| Volatility (ann.) | 22.8% | 60.9% |
| Beta vs S&P 500 | 0.64 | -3.31 |
| Max drawdown (3Y) | -27.6% | -83.3% |
| Market cap | $8.3B | – |
| P/E (trailing) | 14.3 | – |
| Dividend yield | 1.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBSH | VXX |
|---|---|---|
| 2022 | +0.5% | -23.8% |
| 2023 | -15.9% | -72.5% |
| 2024 | +24.7% | -26.2% |
| 2025 | -10.2% | -42.2% |
| 2026 | +12.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBSH and VXX good diversifiers for each other?
Yes. With a correlation of -0.46, CBSH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CBSH and VXX?
As of 2026-08-27, the correlation of weekly returns between CBSH and VXX is -0.46 over 3 years, -0.14 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for CBSH?
Yes. With a correlation of -0.46, CBSH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
On the −1 to +1 scale, -0.46 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/cbsh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbsh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CBSH correlations · VXX correlations
