CELH vs VXX: Correlation
Celsius Holdings, Inc. (CELH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CELH and VXX?
Across a 3-year window, the weekly returns of CELH and VXX correlate at -0.29, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.50) runs below the 3-year figure (-0.29). Stretching to 5 years gives -0.32, with an annualized covariance of -1175.2 %².
VXX is close to the least connected end of CELH's tracked universe, ranking #12 of 12. Neither side won the trailing year by much: -44.8% against -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.
CELH vs VXX: side by side
| CELH (Celsius Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -44.8% | -49.7% |
| 5-year return | +24.3% | -95.6% |
| Volatility (ann.) | 66.5% | 60.9% |
| Beta vs S&P 500 | 1.11 | -3.31 |
| Max drawdown (3Y) | -77.9% | -83.3% |
| Market cap | $8.3B | – |
| P/E (trailing) | 143.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CELH | VXX |
|---|---|---|
| 2022 | +39.5% | -23.8% |
| 2023 | +57.2% | -72.5% |
| 2024 | -51.7% | -26.2% |
| 2025 | +73.7% | -42.2% |
| 2026 | -27.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CELH and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CELH and VXX?
As of 2026-08-27, the correlation of weekly returns between CELH and VXX is -0.29 over 3 years, -0.50 over 1 year and -0.32 over 5 years.
Is VXX a good diversifier for CELH?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/celh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/celh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CELH correlations · VXX correlations
