CPNG vs VXZ: Correlation
Coupang, Inc. (CPNG) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPNG and VXZ?
Across a 3-year window, the weekly returns of CPNG and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.36 lands near the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -248.7 %².
Among the 11 assets we track against CPNG, VXZ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: VXZ led by 26.4 percentage points, -42.5% for CPNG 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.
CPNG vs VXZ: side by side
| CPNG (Coupang, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -42.5% | -16.1% |
| 5-year return | -46.1% | -53.1% |
| Volatility (ann.) | 37.4% | 25.6% |
| Beta vs S&P 500 | 0.95 | -1.31 |
| Max drawdown (3Y) | -54.9% | -36.4% |
| Market cap | $29.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPNG | VXZ |
|---|---|---|
| 2022 | -49.9% | +0.5% |
| 2023 | +10.1% | -44.0% |
| 2024 | +35.8% | -12.7% |
| 2025 | +7.3% | +5.7% |
| 2026 | -31.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPNG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between CPNG and VXZ?
The CPNG/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.36, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CPNG?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/cpng-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpng-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPNG correlations · VXZ correlations
