CNOB vs VXX: Correlation
How closely do ConnectOne Bancorp, Inc. (CNOB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNOB and VXX?
Over the past 3 years, CNOB and VXX moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.36 versus -0.48 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -986.0 %².
Out of 17 assets tracked against CNOB, VXX lands near the bottom at #16. The last year tells two different stories: CNOB led by 77.2 percentage points, +27.5% for CNOB against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.8 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.
CNOB vs VXX: side by side
| CNOB (ConnectOne Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +27.5% | -49.7% |
| 5-year return | +28.9% | -95.6% |
| Volatility (ann.) | 33.9% | 60.9% |
| Beta vs S&P 500 | 0.94 | -3.31 |
| Max drawdown (3Y) | -26.6% | -83.3% |
| Market cap | $1.6B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.35% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNOB | VXX |
|---|---|---|
| 2022 | -24.4% | -23.8% |
| 2023 | -1.8% | -72.5% |
| 2024 | +3.3% | -26.2% |
| 2025 | +17.8% | -42.2% |
| 2026 | +24.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNOB and VXX good diversifiers for each other?
Yes. With a correlation of -0.48, CNOB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNOB and VXX?
As of 2026-08-27, the correlation of weekly returns between CNOB and VXX is -0.48 over 3 years, -0.36 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for CNOB?
Yes. With a correlation of -0.48, CNOB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/cnob-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnob-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNOB correlations · VXX correlations
