CLBK vs VXZ: Correlation
Columbia Financial, Inc. (CLBK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLBK and VXZ?
Over the past 3 years, CLBK and VXZ moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.39). Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -299.0 %².
Among the 11 assets we track against CLBK, VXZ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: CLBK led by 86.8 percentage points, +70.7% for CLBK against -16.1% for VXZ.
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 VXZ: side by side
| CLBK (Columbia Financial, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +70.7% | -16.1% |
| 5-year return | +45.5% | -53.1% |
| Volatility (ann.) | 30.1% | 25.6% |
| Beta vs S&P 500 | 0.64 | -1.31 |
| Max drawdown (3Y) | -33.9% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 21.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLBK | VXZ |
|---|---|---|
| 2022 | +3.6% | +0.5% |
| 2023 | -10.8% | -44.0% |
| 2024 | -18.0% | -12.7% |
| 2025 | -1.7% | +5.7% |
| 2026 | +67.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLBK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.39, CLBK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLBK and VXZ?
The CLBK/VXZ correlation stands at -0.39 on a 3-year window (1 year: -0.23, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CLBK?
Yes. With a correlation of -0.39, CLBK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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/clbk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clbk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLBK correlations · VXZ correlations
