CFBK vs VXZ: Correlation
CF Bankshares Inc. (CFBK) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFBK and VXZ?
On 3 years of weekly data the CFBK/VXZ correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.40 over 3. The 5-year figure is -0.26, and annualized covariance runs at -308.4 %².
Among the 12 assets we track against CFBK, VXZ sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with CFBK ahead by 58.6 points (+42.5% versus -16.1%).
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.
CFBK vs VXZ: side by side
| CFBK (CF Bankshares Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.5% | -16.1% |
| 5-year return | +92.0% | -53.1% |
| Volatility (ann.) | 30.3% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -33.5% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 0.98% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CFBK | VXZ |
|---|---|---|
| 2022 | +4.1% | +0.5% |
| 2023 | -6.7% | -44.0% |
| 2024 | +32.6% | -12.7% |
| 2025 | -1.0% | +5.7% |
| 2026 | +39.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFBK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between CFBK and VXZ?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.31 over the last year and -0.26 over 5 years.
Is VXZ a good diversifier for CFBK?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/cfbk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfbk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CFBK correlations · VXZ correlations
