CNP vs VXZ: Correlation
How closely do CenterPoint Energy (CNP) 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 -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNP and VXZ?
On 3 years of weekly data the CNP/VXZ correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.20). The 5-year figure is -0.27, and annualized covariance runs at -88.9 %².
Among the 28 assets we track against CNP, VXZ sits near the bottom by co-movement, at rank #25. The last year tells two different stories: CNP led by 22.6 percentage points, +6.5% for CNP against -16.1% for VXZ.
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.
CNP vs VXZ: side by side
| CNP (CenterPoint Energy) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.5% | -16.1% |
| 5-year return | +75.6% | -53.1% |
| Volatility (ann.) | 17.2% | 25.6% |
| Beta vs S&P 500 | 0.12 | -1.31 |
| Max drawdown (3Y) | -18.1% | -36.4% |
| Market cap | $25.9B | – |
| P/E (trailing) | 23.5 | – |
| Dividend yield | 2.27% | – |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | CNP | VXZ |
|---|---|---|
| 2022 | +10.0% | +0.5% |
| 2023 | -2.1% | -44.0% |
| 2024 | +14.3% | -12.7% |
| 2025 | +23.7% | +5.7% |
| 2026 | +4.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.20, CNP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNP and VXZ?
As of 2026-08-27, the correlation of weekly returns between CNP and VXZ is -0.20 over 3 years, 0.05 over 1 year and -0.27 over 5 years.
Is VXZ a good diversifier for CNP?
Yes. With a correlation of -0.20, CNP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/cnp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNP correlations · VXZ correlations
