CLB vs VXZ: Correlation
Measured on weekly returns over the past three years, Core Laboratories Inc. (CLB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLB and VXZ?
Across a 3-year window, the weekly returns of CLB and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -362.7 %².
Among the 15 assets we track against CLB, VXZ sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with CLB ahead by 26.7 points (+10.6% versus -16.1%). One caveat on sizing: CLB 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.
CLB vs VXZ: side by side
| CLB (Core Laboratories Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.6% | -16.1% |
| 5-year return | -55.8% | -53.1% |
| Volatility (ann.) | 53.1% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -62.5% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.33% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLB | VXZ |
|---|---|---|
| 2022 | -9.0% | +0.5% |
| 2023 | -12.7% | -44.0% |
| 2024 | -1.8% | -12.7% |
| 2025 | -7.1% | +5.7% |
| 2026 | -23.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, CLB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLB and VXZ?
The CLB/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.22, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CLB?
Yes. With a correlation of -0.27, CLB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/clb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLB correlations · VXZ correlations
