CLH vs VXZ: Correlation
How closely do Clean Harbors, Inc. (CLH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLH and VXZ?
Over the past 3 years, CLH and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.38 over 3 years. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -230.4 %².
Out of 17 assets tracked against CLH, VXZ lands near the bottom at #17. The last year tells two different stories: CLH led by 43.1 percentage points, +27.0% for CLH 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.
CLH vs VXZ: side by side
| CLH (Clean Harbors, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +27.0% | -16.1% |
| 5-year return | +204.2% | -53.1% |
| Volatility (ann.) | 23.8% | 25.6% |
| Beta vs S&P 500 | 0.66 | -1.31 |
| Max drawdown (3Y) | -30.9% | -36.4% |
| Market cap | $16.5B | – |
| P/E (trailing) | 37.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLH | VXZ |
|---|---|---|
| 2022 | +14.4% | +0.5% |
| 2023 | +52.9% | -44.0% |
| 2024 | +31.9% | -12.7% |
| 2025 | +1.9% | +5.7% |
| 2026 | +33.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLH and VXZ?
As of 2026-08-27, the correlation of weekly returns between CLH and VXZ is -0.38 over 3 years, -0.21 over 1 year and -0.35 over 5 years.
Is VXZ a good diversifier for CLH?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/clh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLH correlations · VXZ correlations
