CDRE vs VXX: Correlation
How closely do Cadre Holdings, Inc. (CDRE) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDRE and VXX?
On 3 years of weekly data the CDRE/VXX correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.26, and annualized covariance runs at -532.2 %².
VXX is close to the least connected end of CDRE's tracked universe, ranking #8 of 10. Correlation aside, the last 12 months split them widely, with CDRE ahead by 51.2 points (+1.5% versus -49.7%). Risk is not evenly split, since VXX carries 1.7 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.
CDRE vs VXX: side by side
| CDRE (Cadre Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.5% | -49.7% |
| 5-year return | +116.1% | -95.6% |
| Volatility (ann.) | 36.9% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -40.6% | -83.3% |
| Market cap | $1.3B | – |
| P/E (trailing) | 38.4 | – |
| Dividend yield | 1.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDRE | VXX |
|---|---|---|
| 2022 | -19.7% | -23.8% |
| 2023 | +65.5% | -72.5% |
| 2024 | -0.8% | -26.2% |
| 2025 | +27.8% | -42.2% |
| 2026 | -23.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDRE and VXX good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CDRE and VXX?
The CDRE/VXX correlation stands at -0.24 on a 3-year window (1 year: -0.22, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CDRE?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdre-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdre-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CDRE correlations · VXX correlations
