CLBK vs VXX: Correlation
Columbia Financial, Inc. (CLBK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBK and VXX?
Across a 3-year window, the weekly returns of CLBK and VXX correlate 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 -0.16 versus -0.37 over 3 years. Stretching to 5 years gives -0.31, with an annualized covariance of -674.1 %².
VXX is close to the least connected end of CLBK's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months CLBK outperformed by 120.4 percentage points (+70.7% for CLBK 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.
CLBK vs VXX: side by side
| CLBK (Columbia Financial, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +70.7% | -49.7% |
| 5-year return | +45.5% | -95.6% |
| Volatility (ann.) | 30.1% | 60.9% |
| Beta vs S&P 500 | 0.64 | -3.31 |
| Max drawdown (3Y) | -33.9% | -83.3% |
| Market cap | $1.2B | – |
| P/E (trailing) | 21.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLBK | VXX |
|---|---|---|
| 2022 | +3.6% | -23.8% |
| 2023 | -10.8% | -72.5% |
| 2024 | -18.0% | -26.2% |
| 2025 | -1.7% | -42.2% |
| 2026 | +67.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBK and VXX good diversifiers for each other?
Yes. With a correlation of -0.37, CLBK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLBK and VXX?
The CLBK/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.16, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CLBK?
Yes. With a correlation of -0.37, CLBK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 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/clbk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clbk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLBK correlations · VXX correlations
