CDE vs VXX: Correlation
How closely do Coeur Mining, Inc. (CDE) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDE and VXX?
Across a 3-year window, the weekly returns of CDE and VXX correlate at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.44) sits close to the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -1568.0 %².
Among the 10 assets we track against CDE, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: CDE led by 128.0 percentage points, +78.3% for CDE against -49.7% for VXX.
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.
CDE vs VXX: side by side
| CDE (Coeur Mining, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +78.3% | -49.7% |
| 5-year return | +222.7% | -95.6% |
| Volatility (ann.) | 74.8% | 60.9% |
| Beta vs S&P 500 | 1.98 | -3.31 |
| Max drawdown (3Y) | -47.8% | -83.3% |
| Market cap | $22.8B | – |
| P/E (trailing) | 18.7 | – |
| Dividend yield | 0.09% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDE | VXX |
|---|---|---|
| 2022 | -33.3% | -23.8% |
| 2023 | -3.0% | -72.5% |
| 2024 | +75.5% | -26.2% |
| 2025 | +211.7% | -42.2% |
| 2026 | +24.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDE and VXX good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CDE and VXX?
The CDE/VXX correlation stands at -0.34 on a 3-year window (1 year: -0.44, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CDE?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/cde-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cde-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CDE correlations · VXX correlations
