CR vs VXX: Correlation
Measured on weekly returns over the past three years, Crane Company (CR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CR and VXX?
On 3 years of weekly data the CR/VXX correlation comes out at -0.49, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.37) than the 3-year average (-0.49). The 5-year figure is n/a, and annualized covariance runs at -929.1 %².
VXX is close to the least connected end of CR's tracked universe, ranking #16 of 17. Their recent paths diverged sharply: over the last 12 months CR outperformed by 58.1 percentage points (+8.4% for CR against -49.7% for VXX). One caveat on sizing: VXX is 2.0 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.
CR vs VXX: side by side
| CR (Crane Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.4% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 31.2% | 60.9% |
| Beta vs S&P 500 | 1.13 | -3.31 |
| Max drawdown (3Y) | -28.0% | -83.3% |
| Market cap | $12.1B | – |
| P/E (trailing) | 36.6 | – |
| Dividend yield | 0.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CR | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | +29.2% | -26.2% |
| 2025 | +22.2% | -42.2% |
| 2026 | +13.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CR and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between CR and VXX?
Using weekly returns as of 2026-08-27: -0.49 over 3 years, with -0.37 over the last year and n/a over 5 years.
Is VXX a good diversifier for CR?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 mean?
A reading of -0.49 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/cr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CR correlations · VXX correlations
