CNXC vs VXX: Correlation
Measured on weekly returns over the past three years, Concentrix Corporation (CNXC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNXC and VXX?
On 3 years of weekly data the CNXC/VXX correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.30, and annualized covariance runs at -1026.5 %².
Out of 11 assets tracked against CNXC, VXX lands near the bottom at #10. On 12-month performance CNXC holds a 7.8-point edge, -41.9% against -49.7%.
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.
CNXC vs VXX: side by side
| CNXC (Concentrix Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -41.9% | -49.7% |
| 5-year return | -81.9% | -95.6% |
| Volatility (ann.) | 52.6% | 60.9% |
| Beta vs S&P 500 | 1.27 | -3.31 |
| Max drawdown (3Y) | -78.5% | -83.3% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.07% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNXC | VXX |
|---|---|---|
| 2022 | -24.9% | -23.8% |
| 2023 | -25.4% | -72.5% |
| 2024 | -55.0% | -26.2% |
| 2025 | -1.4% | -42.2% |
| 2026 | -29.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNXC and VXX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CNXC and VXX?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.26 over the last year and -0.30 over 5 years.
Is VXX a good diversifier for CNXC?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 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/cnxc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cnxc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CNXC correlations · VXX correlations
