CIVB vs VXX: Correlation
How closely do Civista Bancshares, Inc. (CIVB) 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 CIVB and VXX?
Over the past 3 years, CIVB and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.26) than the 3-year average (-0.37). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -733.5 %².
VXX is close to the least connected end of CIVB's tracked universe, ranking #10 of 11. Correlation aside, the last 12 months split them widely, with CIVB ahead by 84.9 points (+35.2% versus -49.7%). Note the risk asymmetry: VXX runs 1.9 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.
CIVB vs VXX: side by side
| CIVB (Civista Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.2% | -49.7% |
| 5-year return | +39.0% | -95.6% |
| Volatility (ann.) | 32.4% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -25.2% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 2.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIVB | VXX |
|---|---|---|
| 2022 | -7.5% | -23.8% |
| 2023 | -13.2% | -72.5% |
| 2024 | +18.7% | -26.2% |
| 2025 | +9.1% | -42.2% |
| 2026 | +26.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIVB and VXX good diversifiers for each other?
Yes. With a correlation of -0.37, CIVB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CIVB and VXX?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.26 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for CIVB?
Yes. With a correlation of -0.37, CIVB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/civb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/civb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CIVB correlations · VXX correlations
