CLIR vs VXZ: Correlation
ClearSign Technologies Corporation (CLIR) 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 -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLIR and VXZ?
Over the past 3 years, CLIR and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.32 over 3. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -732.6 %².
Out of 10 assets tracked against CLIR, VXZ lands near the bottom at #10. The trailing year gives VXZ the advantage: -23.2% versus -16.1%, a 7.1-point spread. Risk is not evenly split, since CLIR carries 3.5 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.
CLIR vs VXZ: side by side
| CLIR (ClearSign Technologies Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -23.2% | -16.1% |
| 5-year return | -85.3% | -53.1% |
| Volatility (ann.) | 89.0% | 25.6% |
| Beta vs S&P 500 | 2.06 | -1.31 |
| Max drawdown (3Y) | -78.5% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLIR | VXZ |
|---|---|---|
| 2022 | -60.9% | +0.5% |
| 2023 | +105.6% | -44.0% |
| 2024 | +29.7% | -12.7% |
| 2025 | -61.1% | +5.7% |
| 2026 | -19.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLIR 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 CLIR and VXZ?
As of 2026-08-27, the correlation of weekly returns between CLIR and VXZ is -0.32 over 3 years, -0.28 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for CLIR?
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?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/clir-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clir-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLIR correlations · VXZ correlations
