CLM vs VXZ: Correlation
How closely do Cornerstone Strategic Investment Fund, Inc. (CLM) 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 -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLM and VXZ?
Across a 3-year window, the weekly returns of CLM and VXZ correlate at -0.47, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.47 over 3. Stretching to 5 years gives -0.43, with an annualized covariance of -238.6 %².
VXZ is close to the least connected end of CLM's tracked universe, ranking #8 of 10. On 12-month performance CLM holds a 14.7-point edge, -1.4% against -16.1%.
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.
CLM vs VXZ: side by side
| CLM (Cornerstone Strategic Investment Fund, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.4% | -16.1% |
| 5-year return | +31.9% | -53.1% |
| Volatility (ann.) | 19.8% | 25.6% |
| Beta vs S&P 500 | 0.86 | -1.31 |
| Max drawdown (3Y) | -23.9% | -36.4% |
| Market cap | $2.1B | – |
| P/E (trailing) | 6.1 | – |
| Dividend yield | 21.96% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLM | VXZ |
|---|---|---|
| 2022 | -36.7% | +0.5% |
| 2023 | +17.5% | -44.0% |
| 2024 | +41.6% | -12.7% |
| 2025 | +18.5% | +5.7% |
| 2026 | -9.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLM and VXZ good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CLM and VXZ?
As of 2026-08-27, the correlation of weekly returns between CLM and VXZ is -0.47 over 3 years, -0.39 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for CLM?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/clm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLM correlations · VXZ correlations
