CIM vs VXX: Correlation
Measured on weekly returns over the past three years, Chimera Investment Corporation (CIM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIM and VXX?
Across a 3-year window, the weekly returns of CIM and VXX correlate at -0.40, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.40). Stretching to 5 years gives -0.42, with an annualized covariance of -715.9 %².
VXX is close to the least connected end of CIM's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months CIM outperformed by 42.8 percentage points (-6.9% for CIM against -49.7% for VXX). One caveat on sizing: VXX is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CIM vs VXX: side by side
| CIM (Chimera Investment Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.9% | -49.7% |
| 5-year return | -54.1% | -95.6% |
| Volatility (ann.) | 29.4% | 60.9% |
| Beta vs S&P 500 | 0.76 | -3.31 |
| Max drawdown (3Y) | -33.1% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 14.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIM | VXX |
|---|---|---|
| 2022 | -57.9% | -23.8% |
| 2023 | +2.9% | -72.5% |
| 2024 | +3.6% | -26.2% |
| 2025 | -0.6% | -42.2% |
| 2026 | -0.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIM and VXX good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CIM and VXX?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.25 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for CIM?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 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/cim-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cim-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CIM correlations · VXX correlations
