CGEM vs VXX: Correlation
Measured on weekly returns over the past three years, Cullinan Therapeutics, Inc. (CGEM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGEM and VXX?
Across a 3-year window, the weekly returns of CGEM and VXX correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.21). Stretching to 5 years gives -0.22, with an annualized covariance of -936.6 %².
VXX is close to the least connected end of CGEM's tracked universe, ranking #11 of 13. Their recent paths diverged sharply: over the last 12 months CGEM outperformed by 234.7 percentage points (+185.0% for CGEM against -49.7% for VXX).
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.
CGEM vs VXX: side by side
| CGEM (Cullinan Therapeutics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +185.0% | -49.7% |
| 5-year return | -23.5% | -95.6% |
| Volatility (ann.) | 72.4% | 60.9% |
| Beta vs S&P 500 | 1.20 | -3.31 |
| Max drawdown (3Y) | -80.4% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGEM | VXX |
|---|---|---|
| 2022 | -31.6% | -23.8% |
| 2023 | -3.4% | -72.5% |
| 2024 | +19.5% | -26.2% |
| 2025 | -15.0% | -42.2% |
| 2026 | +118.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGEM and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between CGEM and VXX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.04 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for CGEM?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/cgem-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgem-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGEM correlations · VXX correlations
