CBT vs VXX: Correlation
Cabot Corporation (CBT) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBT and VXX?
Over the past 3 years, CBT and VXX moved with a correlation of -0.44, 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 (-0.44). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -761.8 %².
Out of 15 assets tracked against CBT, VXX lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months CBT outperformed by 55.4 percentage points (+5.7% for CBT against -49.7% for VXX). One caveat on sizing: VXX is 2.1 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.
CBT vs VXX: side by side
| CBT (Cabot Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.7% | -49.7% |
| 5-year return | +73.1% | -95.6% |
| Volatility (ann.) | 28.5% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -48.8% | -83.3% |
| Market cap | $4.4B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 2.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBT | VXX |
|---|---|---|
| 2022 | +21.4% | -23.8% |
| 2023 | +27.6% | -72.5% |
| 2024 | +11.3% | -26.2% |
| 2025 | -25.7% | -42.2% |
| 2026 | +29.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between CBT and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.27 over the last year and -0.45 over 5 years.
Is VXX a good diversifier for CBT?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 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/cbt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CBT correlations · VXX correlations
