CBSH vs VXZ: Correlation
Measured on weekly returns over the past three years, Commerce Bancshares, Inc. (CBSH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBSH and VXZ?
Across a 3-year window, the weekly returns of CBSH and VXZ correlate at -0.50, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.29 versus -0.50 over 3 years. Stretching to 5 years gives -0.47, with an annualized covariance of -293.8 %².
Among the 13 assets we track against CBSH, VXZ sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with CBSH ahead by 15.1 points (-1.0% 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.
CBSH vs VXZ: side by side
| CBSH (Commerce Bancshares, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.0% | -16.1% |
| 5-year return | +10.0% | -53.1% |
| Volatility (ann.) | 22.8% | 25.6% |
| Beta vs S&P 500 | 0.64 | -1.31 |
| Max drawdown (3Y) | -27.6% | -36.4% |
| Market cap | $8.3B | – |
| P/E (trailing) | 14.3 | – |
| Dividend yield | 1.84% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBSH | VXZ |
|---|---|---|
| 2022 | +0.5% | +0.5% |
| 2023 | -15.9% | -44.0% |
| 2024 | +24.7% | -12.7% |
| 2025 | -10.2% | +5.7% |
| 2026 | +12.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBSH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.50, CBSH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CBSH and VXZ?
The CBSH/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.29, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CBSH?
Yes. With a correlation of -0.50, CBSH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
A reading of -0.50 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/cbsh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbsh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBSH correlations · VXZ correlations
