CDNA vs VXZ: Correlation
Measured on weekly returns over the past three years, CareDx, Inc. (CDNA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDNA and VXZ?
Across a 3-year window, the weekly returns of CDNA and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.26). Stretching to 5 years gives -0.26, with an annualized covariance of -552.6 %².
Out of 10 assets tracked against CDNA, VXZ lands near the bottom at #9. The last year tells two different stories: CDNA led by 310.1 percentage points, +294.0% for CDNA against -16.1% for VXZ. Risk is not evenly split, since CDNA carries 3.3 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.
CDNA vs VXZ: side by side
| CDNA (CareDx, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +294.0% | -16.1% |
| 5-year return | -35.0% | -53.1% |
| Volatility (ann.) | 83.5% | 25.6% |
| Beta vs S&P 500 | 1.46 | -1.31 |
| Max drawdown (3Y) | -66.0% | -36.4% |
| Market cap | $2.7B | – |
| P/E (trailing) | 24.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDNA | VXZ |
|---|---|---|
| 2022 | -74.9% | +0.5% |
| 2023 | +5.2% | -44.0% |
| 2024 | +78.4% | -12.7% |
| 2025 | -12.0% | +5.7% |
| 2026 | +177.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDNA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, CDNA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CDNA and VXZ?
As of 2026-08-27, the correlation of weekly returns between CDNA and VXZ is -0.26 over 3 years, -0.15 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for CDNA?
Yes. With a correlation of -0.26, CDNA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/cdna-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdna-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDNA correlations · VXZ correlations
