CDW vs VXX: Correlation
Measured on weekly returns over the past three years, CDW Corporation (CDW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and VXX?
On 3 years of weekly data the CDW/VXX correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.41 over 3 years. The 5-year figure is -0.41, and annualized covariance runs at -858.5 %².
VXX is close to the least connected end of CDW's tracked universe, ranking #40 of 40. Their recent paths diverged sharply: over the last 12 months CDW outperformed by 41.7 percentage points (-8.0% for CDW against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CDW vs VXX: side by side
| CDW (CDW Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.0% | -49.7% |
| 5-year return | -20.5% | -95.6% |
| Volatility (ann.) | 34.2% | 60.9% |
| Beta vs S&P 500 | 1.01 | -3.31 |
| Max drawdown (3Y) | -60.4% | -83.3% |
| Market cap | $18.6B | – |
| P/E (trailing) | 17.0 | – |
| Dividend yield | 1.78% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CDW | VXX |
|---|---|---|
| 2022 | -11.7% | -23.8% |
| 2023 | +28.8% | -72.5% |
| 2024 | -22.6% | -26.2% |
| 2025 | -20.6% | -42.2% |
| 2026 | +11.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDW and VXX good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CDW and VXX?
The CDW/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.30, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CDW?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
A reading of -0.41 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/cdw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CDW correlations · VXX correlations
