CIM vs VXZ: Correlation
How closely do Chimera Investment Corporation (CIM) 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 -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIM and VXZ?
On 3 years of weekly data the CIM/VXZ correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.41 over 3. The 5-year figure is -0.49, and annualized covariance runs at -310.3 %².
Out of 11 assets tracked against CIM, VXZ lands near the bottom at #11. The trailing year gives CIM the advantage: -6.9% versus -16.1%, a 9.2-point spread.
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 VXZ: side by side
| CIM (Chimera Investment Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.9% | -16.1% |
| 5-year return | -54.1% | -53.1% |
| Volatility (ann.) | 29.4% | 25.6% |
| Beta vs S&P 500 | 0.76 | -1.31 |
| Max drawdown (3Y) | -33.1% | -36.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 14.29% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIM | VXZ |
|---|---|---|
| 2022 | -57.9% | +0.5% |
| 2023 | +2.9% | -44.0% |
| 2024 | +3.6% | -12.7% |
| 2025 | -0.6% | +5.7% |
| 2026 | -0.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between CIM and VXZ?
The CIM/VXZ correlation stands at -0.41 on a 3-year window (1 year: -0.37, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CIM?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 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/cim-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cim-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CIM correlations · VXZ correlations
