CCNE vs VXX: Correlation
How closely do CNB Financial Corporation (CCNE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCNE and VXX?
On 3 years of weekly data the CCNE/VXX correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.47). The 5-year figure is -0.42, and annualized covariance runs at -822.4 %².
Out of 27 assets tracked against CCNE, VXX lands near the bottom at #26. The last year tells two different stories: CCNE led by 79.9 percentage points, +30.2% for CCNE against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.1 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.
CCNE vs VXX: side by side
| CCNE (CNB Financial Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +30.2% | -49.7% |
| 5-year return | +61.1% | -95.6% |
| Volatility (ann.) | 29.0% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -29.7% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 2.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCNE | VXX |
|---|---|---|
| 2022 | -7.8% | -23.8% |
| 2023 | -1.6% | -72.5% |
| 2024 | +13.6% | -26.2% |
| 2025 | +8.4% | -42.2% |
| 2026 | +31.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCNE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between CCNE and VXX?
As of 2026-08-27, the correlation of weekly returns between CCNE and VXX is -0.47 over 3 years, -0.23 over 1 year and -0.42 over 5 years.
Is VXX a good diversifier for CCNE?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ccne-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccne-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCNE correlations · VXX correlations
