CLFD vs VXZ: Correlation
Measured on weekly returns over the past three years, Clearfield, Inc. (CLFD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLFD and VXZ?
Across a 3-year window, the weekly returns of CLFD and VXZ correlate at -0.32, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.32). Stretching to 5 years gives -0.34, with an annualized covariance of -400.2 %².
Among the 12 assets we track against CLFD, VXZ sits near the bottom by co-movement, at rank #11. Over the last 12 months CLFD came out ahead by 7.6 percentage points (-8.5% against -16.1%). Risk is not evenly split, since CLFD carries 1.9 times the volatility of the other side.
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.
CLFD vs VXZ: side by side
| CLFD (Clearfield, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.5% | -16.1% |
| 5-year return | -35.2% | -53.1% |
| Volatility (ann.) | 49.0% | 25.6% |
| Beta vs S&P 500 | 1.34 | -1.31 |
| Max drawdown (3Y) | -48.0% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 103.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLFD | VXZ |
|---|---|---|
| 2022 | +11.5% | +0.5% |
| 2023 | -69.1% | -44.0% |
| 2024 | +6.6% | -12.7% |
| 2025 | -6.0% | +5.7% |
| 2026 | +2.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLFD and VXZ good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLFD and VXZ?
The CLFD/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.11, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CLFD?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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/clfd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clfd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLFD correlations · VXZ correlations
