CCU vs VXX: Correlation
Measured on weekly returns over the past three years, Compania Cervecerias Unidas, S.A. (CCU) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCU and VXX?
Across a 3-year window, the weekly returns of CCU and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.28). Stretching to 5 years gives -0.28, with an annualized covariance of -484.0 %².
VXX is close to the least connected end of CCU's tracked universe, ranking #10 of 11. The last year tells two different stories: CCU led by 50.5 percentage points, +0.8% for CCU against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.2 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.
CCU vs VXX: side by side
| CCU (Compania Cervecerias Unidas, S.A.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.8% | -49.7% |
| 5-year return | -22.7% | -95.6% |
| Volatility (ann.) | 28.3% | 60.9% |
| Beta vs S&P 500 | 0.60 | -3.31 |
| Max drawdown (3Y) | -30.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCU | VXX |
|---|---|---|
| 2022 | -15.0% | -23.8% |
| 2023 | -2.5% | -72.5% |
| 2024 | -6.2% | -26.2% |
| 2025 | +14.2% | -42.2% |
| 2026 | -3.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCU and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, CCU and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCU and VXX?
As of 2026-08-27, the correlation of weekly returns between CCU and VXX is -0.28 over 3 years, -0.42 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for CCU?
Yes. With a correlation of -0.28, CCU and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/ccu-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccu-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CCU correlations · VXX correlations
