CHDN vs VXX: Correlation
Measured on weekly returns over the past three years, Churchill Downs, Incorporated (CHDN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHDN and VXX?
Across a 3-year window, the weekly returns of CHDN and VXX correlate at -0.43, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. Stretching to 5 years gives -0.37, with an annualized covariance of -718.3 %².
Among the 11 assets we track against CHDN, VXX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with CHDN ahead by 31.5 points (-18.2% versus -49.7%). Risk is not evenly split, since VXX carries 2.2 times the volatility of the other side.
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.
CHDN vs VXX: side by side
| CHDN (Churchill Downs, Incorporated) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -18.2% | -49.7% |
| 5-year return | -16.1% | -95.6% |
| Volatility (ann.) | 27.4% | 60.9% |
| Beta vs S&P 500 | 0.72 | -3.31 |
| Max drawdown (3Y) | -43.9% | -83.3% |
| Market cap | $6.0B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHDN | VXX |
|---|---|---|
| 2022 | -12.0% | -23.8% |
| 2023 | +28.1% | -72.5% |
| 2024 | -0.7% | -26.2% |
| 2025 | -14.5% | -42.2% |
| 2026 | -24.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHDN and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHDN and VXX?
The CHDN/VXX correlation stands at -0.43 on a 3-year window (1 year: -0.35, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CHDN?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
A reading of -0.43 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/chdn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chdn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHDN correlations · VXX correlations
