CBT vs VXZ: Correlation
How closely do Cabot Corporation (CBT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBT and VXZ?
Across a 3-year window, the weekly returns of CBT and VXZ correlate at -0.41, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.41). Stretching to 5 years gives -0.47, with an annualized covariance of -300.5 %².
Among the 15 assets we track against CBT, VXZ sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months CBT outperformed by 21.8 percentage points (+5.7% for CBT against -16.1% for VXZ).
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 VXZ: side by side
| CBT (Cabot Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.7% | -16.1% |
| 5-year return | +73.1% | -53.1% |
| Volatility (ann.) | 28.5% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -48.8% | -36.4% |
| Market cap | $4.4B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 2.16% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CBT | VXZ |
|---|---|---|
| 2022 | +21.4% | +0.5% |
| 2023 | +27.6% | -44.0% |
| 2024 | +11.3% | -12.7% |
| 2025 | -25.7% | +5.7% |
| 2026 | +29.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, CBT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CBT and VXZ?
As of 2026-08-27, the correlation of weekly returns between CBT and VXZ is -0.41 over 3 years, -0.25 over 1 year and -0.47 over 5 years.
Is VXZ a good diversifier for CBT?
Yes. With a correlation of -0.41, CBT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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/cbt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBT correlations · VXZ correlations
