CCK vs VXZ: Correlation
Crown Holdings, Inc. (CCK) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCK and VXZ?
Across a 3-year window, the weekly returns of CCK and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.47) than the 3-year average (-0.30). Stretching to 5 years gives -0.35, with an annualized covariance of -190.2 %².
VXZ is close to the least connected end of CCK's tracked universe, ranking #13 of 14. The last year tells two different stories: CCK led by 35.1 percentage points, +19.0% for CCK 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.
CCK vs VXZ: side by side
| CCK (Crown Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.0% | -16.1% |
| 5-year return | +12.7% | -53.1% |
| Volatility (ann.) | 24.9% | 25.6% |
| Beta vs S&P 500 | 0.48 | -1.31 |
| Max drawdown (3Y) | -23.1% | -36.4% |
| Market cap | $12.8B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 1.02% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCK | VXZ |
|---|---|---|
| 2022 | -25.0% | +0.5% |
| 2023 | +13.3% | -44.0% |
| 2024 | -9.1% | -12.7% |
| 2025 | +25.9% | +5.7% |
| 2026 | +15.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCK and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.47 over the last year and -0.35 over 5 years.
Is VXZ a good diversifier for CCK?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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/cck-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cck-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCK correlations · VXZ correlations
