CPRI vs VXX: Correlation
How closely do Capri Holdings Limited (CPRI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPRI and VXX?
On 3 years of weekly data the CPRI/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.39 over 3. The 5-year figure is -0.40, and annualized covariance runs at -1231.6 %².
VXX is close to the least connected end of CPRI's tracked universe, ranking #9 of 10. On 12-month performance CPRI holds a 10.9-point edge, -38.8% 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.
CPRI vs VXX: side by side
| CPRI (Capri Holdings Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -38.8% | -49.7% |
| 5-year return | -76.8% | -95.6% |
| Volatility (ann.) | 52.2% | 60.9% |
| Beta vs S&P 500 | 1.43 | -3.31 |
| Max drawdown (3Y) | -76.4% | -83.3% |
| Market cap | $1.5B | – |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CPRI | VXX |
|---|---|---|
| 2022 | -11.7% | -23.8% |
| 2023 | -12.4% | -72.5% |
| 2024 | -58.1% | -26.2% |
| 2025 | +15.9% | -42.2% |
| 2026 | -46.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPRI and VXX good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CPRI and VXX?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.43 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for CPRI?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/cpri-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cpri-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CPRI correlations · VXX correlations
