CLMB vs VXZ: Correlation
Climb Global Solutions, Inc. (CLMB) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLMB and VXZ?
Across a 3-year window, the weekly returns of CLMB and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.31). Stretching to 5 years gives -0.28, with an annualized covariance of -363.1 %².
VXZ is close to the least connected end of CLMB's tracked universe, ranking #9 of 10. The trailing year gives CLMB the advantage: -6.7% versus -16.1%, a 9.4-point spread. Note the risk asymmetry: CLMB runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CLMB vs VXZ: side by side
| CLMB (Climb Global Solutions, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.7% | -16.1% |
| 5-year return | +361.0% | -53.1% |
| Volatility (ann.) | 45.3% | 25.6% |
| Beta vs S&P 500 | 1.04 | -1.31 |
| Max drawdown (3Y) | -53.4% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 0.33% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLMB | VXZ |
|---|---|---|
| 2022 | -8.3% | +0.5% |
| 2023 | +76.6% | -44.0% |
| 2024 | +133.3% | -12.7% |
| 2025 | -18.4% | +5.7% |
| 2026 | +13.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLMB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, CLMB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLMB and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.42 over the last year and -0.28 over 5 years.
Is VXZ a good diversifier for CLMB?
Yes. With a correlation of -0.31, CLMB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/clmb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clmb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLMB correlations · VXZ correlations
