CEG vs VXX: Correlation
Measured on weekly returns over the past three years, Constellation Energy (CEG) 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 CEG and VXX?
Over the past 3 years, CEG 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 (-0.09) than the 3-year average (-0.28). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -898.2 %².
VXX is close to the least connected end of CEG's tracked universe, ranking #28 of 32. Correlation aside, the last 12 months split them widely, with CEG ahead by 39.6 points (-10.1% 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.
CEG vs VXX: side by side
| CEG (Constellation Energy) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.1% | -49.7% |
| 5-year return | +598.5% | -95.6% |
| Volatility (ann.) | 52.1% | 60.9% |
| Beta vs S&P 500 | 1.42 | -3.31 |
| Max drawdown (3Y) | -50.7% | -83.3% |
| Market cap | $100.1B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 0.58% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CEG | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | +37.2% | -72.5% |
| 2024 | +92.7% | -26.2% |
| 2025 | +58.8% | -42.2% |
| 2026 | -19.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEG and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, CEG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CEG and VXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.09 over the last year and -0.25 over 5 years.
Is VXX a good diversifier for CEG?
Yes. With a correlation of -0.28, CEG 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/ceg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ceg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CEG correlations · VXX correlations
