CNS vs VXX: Correlation
Measured on weekly returns over the past three years, Cohen & Steers Inc (CNS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNS and VXX?
On 3 years of weekly data the CNS/VXX correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.35 over 3 years. The 5-year figure is -0.38, and annualized covariance runs at -643.3 %².
Among the 13 assets we track against CNS, VXX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months CNS outperformed by 63.4 percentage points (+13.7% for CNS against -49.7% for VXX). One caveat on sizing: VXX is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CNS vs VXX: side by side
| CNS (Cohen & Steers Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.7% | -49.7% |
| 5-year return | +11.8% | -95.6% |
| Volatility (ann.) | 30.4% | 60.9% |
| Beta vs S&P 500 | 0.83 | -3.31 |
| Max drawdown (3Y) | -42.6% | -83.3% |
| Market cap | $4.2B | – |
| P/E (trailing) | 25.7 | – |
| Dividend yield | 3.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNS | VXX |
|---|---|---|
| 2022 | -28.0% | -23.8% |
| 2023 | +21.8% | -72.5% |
| 2024 | +25.5% | -26.2% |
| 2025 | -29.8% | -42.2% |
| 2026 | +35.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNS and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNS and VXX?
The CNS/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.11, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CNS?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cns-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cns-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNS correlations · VXX correlations
