CRC vs VXZ: Correlation
How closely do California Resources Corporation (CRC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRC and VXZ?
On 3 years of weekly data the CRC/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.20) runs above the 3-year figure (-0.29). The 5-year figure is -0.30, and annualized covariance runs at -259.5 %².
VXZ is close to the least connected end of CRC's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months CRC outperformed by 24.6 percentage points (+8.5% for CRC 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.
CRC vs VXZ: side by side
| CRC (California Resources Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.5% | -16.1% |
| 5-year return | +78.6% | -53.1% |
| Volatility (ann.) | 34.5% | 25.6% |
| Beta vs S&P 500 | 0.59 | -1.31 |
| Max drawdown (3Y) | -44.8% | -36.4% |
| Market cap | $4.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.05% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRC | VXZ |
|---|---|---|
| 2022 | +3.7% | +0.5% |
| 2023 | +28.9% | -44.0% |
| 2024 | -2.6% | -12.7% |
| 2025 | -10.8% | +5.7% |
| 2026 | +20.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, CRC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRC and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with 0.20 over the last year and -0.30 over 5 years.
Is VXZ a good diversifier for CRC?
Yes. With a correlation of -0.29, CRC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRC correlations · VXZ correlations
