CCI vs VXZ: Correlation
Crown Castle (CCI) 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 -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and VXZ?
On 3 years of weekly data the CCI/VXZ correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.07 lands near the 3-year figure. The 5-year figure is -0.23, and annualized covariance runs at -111.0 %².
Among the 30 assets we track against CCI, VXZ ranks #25 by 3-year correlation. On 12-month performance VXZ holds a 5.4-point edge, -21.5% against -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.
CCI vs VXZ: side by side
| CCI (Crown Castle) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.5% | -16.1% |
| 5-year return | -50.4% | -53.1% |
| Volatility (ann.) | 28.4% | 25.6% |
| Beta vs S&P 500 | 0.22 | -1.31 |
| Max drawdown (3Y) | -33.0% | -36.4% |
| Market cap | $32.8B | – |
| P/E (trailing) | 30.9 | – |
| Dividend yield | 5.63% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CCI | VXZ |
|---|---|---|
| 2022 | -32.6% | +0.5% |
| 2023 | -10.2% | -44.0% |
| 2024 | -16.4% | -12.7% |
| 2025 | +3.0% | +5.7% |
| 2026 | -13.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCI and VXZ?
The CCI/VXZ correlation stands at -0.15 on a 3-year window (1 year: -0.07, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CCI?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 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/cci-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cci-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCI correlations · VXZ correlations
