CDRE vs VXZ: Correlation
Cadre Holdings, Inc. (CDRE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDRE and VXZ?
On 3 years of weekly data the CDRE/VXZ correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. The 5-year figure is -0.27, and annualized covariance runs at -236.2 %².
VXZ is close to the least connected end of CDRE's tracked universe, ranking #10 of 10. The last year tells two different stories: CDRE led by 17.6 percentage points, +1.5% for CDRE against -16.1% for VXZ.
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 VXZ: side by side
| CDRE (Cadre Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.5% | -16.1% |
| 5-year return | +116.1% | -53.1% |
| Volatility (ann.) | 36.9% | 25.6% |
| Beta vs S&P 500 | 0.81 | -1.31 |
| Max drawdown (3Y) | -40.6% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | 38.4 | – |
| Dividend yield | 1.24% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDRE | VXZ |
|---|---|---|
| 2022 | -19.7% | +0.5% |
| 2023 | +65.5% | -44.0% |
| 2024 | -0.8% | -12.7% |
| 2025 | +27.8% | +5.7% |
| 2026 | -23.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDRE and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CDRE and VXZ?
The CDRE/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.33, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CDRE?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/cdre-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdre-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDRE correlations · VXZ correlations
