CION vs VXX: Correlation
How closely do CION Investment Corporation (CION) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CION and VXX?
On 3 years of weekly data the CION/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.37 over 3 years. The 5-year figure is -0.32, and annualized covariance runs at -675.4 %².
VXX is close to the least connected end of CION's tracked universe, ranking #22 of 22. The last year tells two different stories: CION led by 32.0 percentage points, -17.7% for CION against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.0 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.
CION vs VXX: side by side
| CION (CION Investment Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.7% | -49.7% |
| 5-year return | +26.2% | -95.6% |
| Volatility (ann.) | 30.2% | 60.9% |
| Beta vs S&P 500 | 0.86 | -3.31 |
| Max drawdown (3Y) | -40.3% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 123.5 | – |
| Dividend yield | 17.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CION | VXX |
|---|---|---|
| 2022 | -14.8% | -23.8% |
| 2023 | +35.4% | -72.5% |
| 2024 | +14.8% | -26.2% |
| 2025 | -2.3% | -42.2% |
| 2026 | -14.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CION and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between CION and VXX?
As of 2026-08-27, the correlation of weekly returns between CION and VXX is -0.37 over 3 years, -0.25 over 1 year and -0.32 over 5 years.
Is VXX a good diversifier for CION?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cion-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cion-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CION correlations · VXX correlations
