CNS vs VXZ: Correlation
How closely do Cohen & Steers Inc (CNS) 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 -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNS and VXZ?
On 3 years of weekly data the CNS/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.24 versus -0.42 over 3 years. The 5-year figure is -0.46, and annualized covariance runs at -325.1 %².
Out of 13 assets tracked against CNS, VXZ lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months CNS outperformed by 29.8 percentage points (+13.7% for CNS 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.
CNS vs VXZ: side by side
| CNS (Cohen & Steers Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.7% | -16.1% |
| 5-year return | +11.8% | -53.1% |
| Volatility (ann.) | 30.4% | 25.6% |
| Beta vs S&P 500 | 0.83 | -1.31 |
| Max drawdown (3Y) | -42.6% | -36.4% |
| Market cap | $4.2B | – |
| P/E (trailing) | 25.7 | – |
| Dividend yield | 3.10% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNS | VXZ |
|---|---|---|
| 2022 | -28.0% | +0.5% |
| 2023 | +21.8% | -44.0% |
| 2024 | +25.5% | -12.7% |
| 2025 | -29.8% | +5.7% |
| 2026 | +35.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.42, CNS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNS and VXZ?
The CNS/VXZ correlation stands at -0.42 on a 3-year window (1 year: -0.24, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CNS?
Yes. With a correlation of -0.42, CNS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
A reading of -0.42 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cns-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNS correlations · VXZ correlations
