CNVS vs VXZ: Correlation
Measured on weekly returns over the past three years, Cineverse Corp. (CNVS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNVS and VXZ?
On 3 years of weekly data the CNVS/VXZ correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.20 over 3. The 5-year figure is -0.21, and annualized covariance runs at -414.5 %².
Among the 12 assets we track against CNVS, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: VXZ led by 36.0 percentage points, -52.1% for CNVS against -16.1% for VXZ. One caveat on sizing: CNVS is 3.2 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.
CNVS vs VXZ: side by side
| CNVS (Cineverse Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -52.1% | -16.1% |
| 5-year return | -93.6% | -53.1% |
| Volatility (ann.) | 82.6% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -74.0% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNVS | VXZ |
|---|---|---|
| 2022 | -66.4% | +0.5% |
| 2023 | -82.7% | -44.0% |
| 2024 | +170.4% | -12.7% |
| 2025 | -42.2% | +5.7% |
| 2026 | +14.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNVS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNVS and VXZ?
As of 2026-08-27, the correlation of weekly returns between CNVS and VXZ is -0.20 over 3 years, -0.12 over 1 year and -0.21 over 5 years.
Is VXZ a good diversifier for CNVS?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/cnvs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnvs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNVS correlations · VXZ correlations
