CG vs VXX: Correlation
How closely do The Carlyle Group Inc. (CG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.58, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CG and VXX?
On 3 years of weekly data the CG/VXX correlation comes out at -0.58, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.56) sits close to the 3-year figure. The 5-year figure is -0.58, and annualized covariance runs at -1297.7 %².
Out of 21 assets tracked against CG, VXX lands near the bottom at #20. Correlation aside, the last 12 months split them widely, with CG ahead by 27.9 points (-21.8% versus -49.7%). One caveat on sizing: VXX is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CG vs VXX: side by side
| CG (The Carlyle Group Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.8% | -49.7% |
| 5-year return | +18.0% | -95.6% |
| Volatility (ann.) | 36.8% | 60.9% |
| Beta vs S&P 500 | 1.68 | -3.31 |
| Max drawdown (3Y) | -40.4% | -83.3% |
| Market cap | $17.5B | – |
| P/E (trailing) | 50.8 | – |
| Dividend yield | 2.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CG | VXX |
|---|---|---|
| 2022 | -43.8% | -23.8% |
| 2023 | +42.6% | -72.5% |
| 2024 | +28.1% | -26.2% |
| 2025 | +20.2% | -42.2% |
| 2026 | -14.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CG and VXX good diversifiers for each other?
Yes: at -0.58, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CG and VXX?
As of 2026-08-27, the correlation of weekly returns between CG and VXX is -0.58 over 3 years, -0.56 over 1 year and -0.58 over 5 years.
Is VXX a good diversifier for CG?
Yes: at -0.58, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.58 mean?
A reading of -0.58 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/cg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CG correlations · VXX correlations
