CCJ vs VXZ: Correlation
How closely do Cameco Corporation (CCJ) 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 -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCJ and VXZ?
Across a 3-year window, the weekly returns of CCJ and VXZ correlate at -0.38, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.38 over 3. Stretching to 5 years gives -0.34, with an annualized covariance of -430.4 %².
Out of 15 assets tracked against CCJ, VXZ lands near the bottom at #13. The last year tells two different stories: CCJ led by 57.6 percentage points, +41.5% for CCJ against -16.1% for VXZ. Risk is not evenly split, since CCJ carries 1.7 times the volatility of the other side.
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.
CCJ vs VXZ: side by side
| CCJ (Cameco Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +41.5% | -16.1% |
| 5-year return | +501.7% | -53.1% |
| Volatility (ann.) | 44.1% | 25.6% |
| Beta vs S&P 500 | 1.33 | -1.31 |
| Max drawdown (3Y) | -40.0% | -36.4% |
| Market cap | $46.3B | – |
| P/E (trailing) | 183.3 | – |
| Dividend yield | 0.22% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCJ | VXZ |
|---|---|---|
| 2022 | +4.3% | +0.5% |
| 2023 | +90.5% | -44.0% |
| 2024 | +19.5% | -12.7% |
| 2025 | +78.4% | +5.7% |
| 2026 | +16.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCJ and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCJ and VXZ?
As of 2026-08-27, the correlation of weekly returns between CCJ and VXZ is -0.38 over 3 years, -0.37 over 1 year and -0.34 over 5 years.
Is VXZ a good diversifier for CCJ?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/ccj-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccj-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCJ correlations · VXZ correlations
