CE vs VXX: Correlation
Measured on weekly returns over the past three years, Celanese Corporation (CE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CE and VXX?
Over the past 3 years, CE and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.28). Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -857.5 %².
Among the 14 assets we track against CE, VXX sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with CE ahead by 45.1 points (-4.6% versus -49.7%).
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.
CE vs VXX: side by side
| CE (Celanese Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -4.6% | -49.7% |
| 5-year return | -69.7% | -95.6% |
| Volatility (ann.) | 49.7% | 60.9% |
| Beta vs S&P 500 | 0.79 | -3.31 |
| Max drawdown (3Y) | -79.0% | -83.3% |
| Market cap | $4.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CE | VXX |
|---|---|---|
| 2022 | -37.8% | -23.8% |
| 2023 | +55.7% | -72.5% |
| 2024 | -54.6% | -26.2% |
| 2025 | -38.8% | -42.2% |
| 2026 | +6.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CE and VXX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CE and VXX?
The CE/VXX correlation stands at -0.28 on a 3-year window (1 year: -0.08, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CE?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/ce-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ce-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CE correlations · VXX correlations
