CECO vs VXX: Correlation
Measured on weekly returns over the past three years, CECO Environmental Corp. (CECO) 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 CECO and VXX?
Over the past 3 years, CECO and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.28). Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -916.1 %².
Among the 12 assets we track against CECO, VXX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with CECO ahead by 103.8 points (+54.1% 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.
CECO vs VXX: side by side
| CECO (CECO Environmental Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +54.1% | -49.7% |
| 5-year return | +853.0% | -95.6% |
| Volatility (ann.) | 54.0% | 60.9% |
| Beta vs S&P 500 | 0.97 | -3.31 |
| Max drawdown (3Y) | -47.9% | -83.3% |
| Market cap | $4.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CECO | VXX |
|---|---|---|
| 2022 | +87.5% | -23.8% |
| 2023 | +73.6% | -72.5% |
| 2024 | +49.1% | -26.2% |
| 2025 | +98.0% | -42.2% |
| 2026 | +20.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CECO and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, CECO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CECO and VXX?
The CECO/VXX correlation stands at -0.28 on a 3-year window (1 year: -0.18, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CECO?
Yes. With a correlation of -0.28, CECO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/ceco-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ceco-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CECO correlations · VXX correlations
