CFG vs VXX: Correlation
Citizens Financial Group (CFG) 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 -0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFG and VXX?
On 3 years of weekly data the CFG/VXX correlation comes out at -0.57, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.39) than the 3-year average (-0.57). The 5-year figure is -0.51, and annualized covariance runs at -1076.1 %².
Among the 46 assets we track against CFG, VXX sits near the bottom by co-movement, at rank #45. Their recent paths diverged sharply: over the last 12 months CFG outperformed by 89.0 percentage points (+39.3% for CFG against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CFG vs VXX: side by side
| CFG (Citizens Financial Group) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.3% | -49.7% |
| 5-year return | +98.3% | -95.6% |
| Volatility (ann.) | 31.0% | 60.9% |
| Beta vs S&P 500 | 1.16 | -3.31 |
| Max drawdown (3Y) | -29.1% | -83.3% |
| Market cap | $29.6B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.55% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CFG | VXX |
|---|---|---|
| 2022 | -13.4% | -23.8% |
| 2023 | -11.0% | -72.5% |
| 2024 | +38.0% | -26.2% |
| 2025 | +38.6% | -42.2% |
| 2026 | +22.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFG and VXX good diversifiers for each other?
Yes. With a correlation of -0.57, CFG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CFG and VXX?
The CFG/VXX correlation stands at -0.57 on a 3-year window (1 year: -0.39, 5 years: -0.51), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CFG?
Yes. With a correlation of -0.57, CFG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 mean?
A reading of -0.57 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/cfg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cfg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CFG correlations · VXX correlations
