CGON vs VXX: Correlation
Measured on weekly returns over the past three years, CG Oncology, Inc. (CGON) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGON and VXX?
On 3 years of weekly data the CGON/VXX correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.03) runs above the 3-year figure (-0.30). The 5-year figure is n/a, and annualized covariance runs at -1166.8 %².
Out of 17 assets tracked against CGON, VXX lands near the bottom at #15. The last year tells two different stories: CGON led by 248.1 percentage points, +198.4% for CGON 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.
CGON vs VXX: side by side
| CGON (CG Oncology, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +198.4% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 61.8% | 60.9% |
| Beta vs S&P 500 | 1.57 | -3.31 |
| Max drawdown (3Y) | -67.5% | -83.3% |
| Market cap | $7.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGON | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | – | -26.2% |
| 2025 | +44.8% | -42.2% |
| 2026 | +90.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGON and VXX good diversifiers for each other?
Yes. With a correlation of -0.30, CGON and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CGON and VXX?
The CGON/VXX correlation stands at -0.30 on a 3-year window (1 year: -0.03, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CGON?
Yes. With a correlation of -0.30, CGON and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cgon-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgon-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CGON correlations · VXX correlations
