CHRN vs VXZ: Correlation
How closely do ChronoScale Holdings Corporation (CHRN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRN and VXZ?
Over the past 3 years, CHRN and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.00) than the 3-year average (-0.25). Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -636.3 %².
VXZ is close to the least connected end of CHRN's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months CHRN outperformed by 461.8 percentage points (+445.7% for CHRN against -16.1% for VXZ). Note the risk asymmetry: CHRN runs 3.9 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.
CHRN vs VXZ: side by side
| CHRN (ChronoScale Holdings Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +445.7% | -16.1% |
| 5-year return | -70.2% | -53.1% |
| Volatility (ann.) | 99.6% | 25.6% |
| Beta vs S&P 500 | 1.58 | -1.31 |
| Max drawdown (3Y) | -93.9% | -36.4% |
| Market cap | $3.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRN | VXZ |
|---|---|---|
| 2022 | -55.1% | +0.5% |
| 2023 | +110.1% | -44.0% |
| 2024 | -75.6% | -12.7% |
| 2025 | -5.6% | +5.7% |
| 2026 | +140.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHRN and VXZ?
As of 2026-08-27, the correlation of weekly returns between CHRN and VXZ is -0.25 over 3 years, -0.00 over 1 year and -0.24 over 5 years.
Is VXZ a good diversifier for CHRN?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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[](https://www.pairbook.io/pair/chrn-vs-vxz/)
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Related comparisons
Hubs: CHRN correlations · VXZ correlations
