CDLX vs VXZ: Correlation
Measured on weekly returns over the past three years, Cardlytics, Inc. (CDLX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDLX and VXZ?
Over the past 3 years, CDLX and VXZ moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -678.4 %².
Among the 15 assets we track against CDLX, VXZ sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with VXZ ahead by 45.0 points (-61.1% versus -16.1%). Risk is not evenly split, since CDLX carries 5.2 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.
CDLX vs VXZ: side by side
| CDLX (Cardlytics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -61.1% | -16.1% |
| 5-year return | -99.6% | -53.1% |
| Volatility (ann.) | 134.2% | 25.6% |
| Beta vs S&P 500 | 2.27 | -1.31 |
| Max drawdown (3Y) | -98.3% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDLX | VXZ |
|---|---|---|
| 2022 | -91.3% | +0.5% |
| 2023 | +59.3% | -44.0% |
| 2024 | -59.7% | -12.7% |
| 2025 | -69.0% | +5.7% |
| 2026 | -65.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDLX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.20, CDLX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CDLX and VXZ?
As of 2026-08-27, the correlation of weekly returns between CDLX and VXZ is -0.20 over 3 years, -0.17 over 1 year and -0.24 over 5 years.
Is VXZ a good diversifier for CDLX?
Yes. With a correlation of -0.20, CDLX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/cdlx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdlx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDLX correlations · VXZ correlations
