CEG vs VXZ: Correlation
Constellation Energy (CEG) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CEG and VXZ?
Across a 3-year window, the weekly returns of CEG and VXZ correlate at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.28 over 3 years. Stretching to 5 years gives -0.26, with an annualized covariance of -367.3 %².
Among the 32 assets we track against CEG, VXZ sits near the bottom by co-movement, at rank #29. The trailing year gives CEG the advantage: -10.1% versus -16.1%, a 6.0-point spread. Risk is not evenly split, since CEG carries 2.0 times the volatility of the other side.
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 VXZ: side by side
| CEG (Constellation Energy) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.1% | -16.1% |
| 5-year return | +598.5% | -53.1% |
| Volatility (ann.) | 52.1% | 25.6% |
| Beta vs S&P 500 | 1.42 | -1.31 |
| Max drawdown (3Y) | -50.7% | -36.4% |
| Market cap | $100.1B | – |
| P/E (trailing) | 27.3 | – |
| Dividend yield | 0.58% | – |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CEG | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +37.2% | -44.0% |
| 2024 | +92.7% | -12.7% |
| 2025 | +58.8% | +5.7% |
| 2026 | -19.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CEG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between CEG and VXZ?
As of 2026-08-27, the correlation of weekly returns between CEG and VXZ is -0.28 over 3 years, -0.04 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for CEG?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
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/ceg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ceg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CEG correlations · VXZ correlations
