COCP vs VXZ: Correlation
Cocrystal Pharma, Inc. (COCP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COCP and VXZ?
Over the past 3 years, COCP and VXZ moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.21 over 3 years. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -402.0 %².
VXZ is close to the least connected end of COCP's tracked universe, ranking #9 of 10. Over the last 12 months VXZ came out ahead by 10.4 percentage points (-26.5% against -16.1%). Note the risk asymmetry: COCP runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
COCP vs VXZ: side by side
| COCP (Cocrystal Pharma, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -26.5% | -16.1% |
| 5-year return | -91.4% | -53.1% |
| Volatility (ann.) | 75.4% | 25.6% |
| Beta vs S&P 500 | 1.06 | -1.31 |
| Max drawdown (3Y) | -74.8% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COCP | VXZ |
|---|---|---|
| 2022 | -75.0% | +0.5% |
| 2023 | -11.8% | -44.0% |
| 2024 | +17.4% | -12.7% |
| 2025 | -51.5% | +5.7% |
| 2026 | +16.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COCP and VXZ good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between COCP and VXZ?
The COCP/VXZ correlation stands at -0.21 on a 3-year window (1 year: -0.44, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for COCP?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/cocp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cocp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COCP correlations · VXZ correlations
