CHRS vs VXZ: Correlation
How closely do Coherus Oncology, Inc. (CHRS) 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 -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHRS and VXZ?
On 3 years of weekly data the CHRS/VXZ correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. The 5-year figure is -0.22, and annualized covariance runs at -585.5 %².
Out of 13 assets tracked against CHRS, VXZ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months CHRS outperformed by 44.2 percentage points (+28.1% for CHRS against -16.1% for VXZ). Note the risk asymmetry: CHRS runs 4.0 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.
CHRS vs VXZ: side by side
| CHRS (Coherus Oncology, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.1% | -16.1% |
| 5-year return | -90.8% | -53.1% |
| Volatility (ann.) | 102.6% | 25.6% |
| Beta vs S&P 500 | 1.59 | -1.31 |
| Max drawdown (3Y) | -87.7% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHRS | VXZ |
|---|---|---|
| 2022 | -50.4% | +0.5% |
| 2023 | -58.0% | -44.0% |
| 2024 | -58.6% | -12.7% |
| 2025 | +2.9% | +5.7% |
| 2026 | +2.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHRS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHRS and VXZ?
As of 2026-08-27, the correlation of weekly returns between CHRS and VXZ is -0.22 over 3 years, -0.21 over 1 year and -0.22 over 5 years.
Is VXZ a good diversifier for CHRS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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/chrs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chrs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHRS correlations · VXZ correlations
