CLS vs VXX: Correlation
Measured on weekly returns over the past three years, Celestica, Inc. (CLS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLS and VXX?
Over the past 3 years, CLS and VXX moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.45 over 1 year against -0.48 over 3. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -1756.4 %².
Among the 23 assets we track against CLS, VXX sits near the bottom by co-movement, at rank #22. Correlation aside, the last 12 months split them widely, with CLS ahead by 106.7 points (+57.0% versus -49.7%).
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.
CLS vs VXX: side by side
| CLS (Celestica, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.0% | -49.7% |
| 5-year return | +3251.4% | -95.6% |
| Volatility (ann.) | 60.6% | 60.9% |
| Beta vs S&P 500 | 2.49 | -3.31 |
| Max drawdown (3Y) | -54.0% | -83.3% |
| Market cap | $40.0B | – |
| P/E (trailing) | 32.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLS | VXX |
|---|---|---|
| 2022 | +1.3% | -23.8% |
| 2023 | +159.8% | -72.5% |
| 2024 | +215.2% | -26.2% |
| 2025 | +220.3% | -42.2% |
| 2026 | +7.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLS and VXX?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.45 over the last year and -0.44 over 5 years.
Is VXX a good diversifier for CLS?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/cls-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cls-vs-vxx/)
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Related comparisons
Hubs: CLS correlations · VXX correlations
