CENX vs VXZ: Correlation
Century Aluminum Company (CENX) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENX and VXZ?
On 3 years of weekly data the CENX/VXZ correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.38 over 3. The 5-year figure is -0.36, and annualized covariance runs at -648.9 %².
VXZ is close to the least connected end of CENX's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with CENX ahead by 118.3 points (+102.2% versus -16.1%). Risk is not evenly split, since CENX carries 2.6 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.
CENX vs VXZ: side by side
| CENX (Century Aluminum Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +102.2% | -16.1% |
| 5-year return | +270.4% | -53.1% |
| Volatility (ann.) | 67.1% | 25.6% |
| Beta vs S&P 500 | 2.12 | -1.31 |
| Max drawdown (3Y) | -42.8% | -36.4% |
| Market cap | $4.5B | – |
| P/E (trailing) | 7.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CENX | VXZ |
|---|---|---|
| 2022 | -50.6% | +0.5% |
| 2023 | +48.4% | -44.0% |
| 2024 | +50.1% | -12.7% |
| 2025 | +115.0% | +5.7% |
| 2026 | +17.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between CENX and VXZ?
The CENX/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.33, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CENX?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/cenx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cenx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CENX correlations · VXZ correlations
