CRDL vs VXX: Correlation
Cardiol Therapeutics Inc. - Class A (CRDL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDL and VXX?
Over the past 3 years, CRDL and VXX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.24). Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -1107.5 %².
Among the 10 assets we track against CRDL, VXX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with CRDL ahead by 133.6 points (+83.9% versus -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.
CRDL vs VXX: side by side
| CRDL (Cardiol Therapeutics Inc. - Class A) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +83.9% | -49.7% |
| 5-year return | -43.7% | -95.6% |
| Volatility (ann.) | 77.0% | 60.9% |
| Beta vs S&P 500 | 1.22 | -3.31 |
| Max drawdown (3Y) | -72.7% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDL | VXX |
|---|---|---|
| 2022 | -72.4% | -23.8% |
| 2023 | +65.3% | -72.5% |
| 2024 | +51.8% | -26.2% |
| 2025 | -25.5% | -42.2% |
| 2026 | +115.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRDL and VXX?
As of 2026-08-27, the correlation of weekly returns between CRDL and VXX is -0.24 over 3 years, -0.12 over 1 year and -0.20 over 5 years.
Is VXX a good diversifier for CRDL?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/crdl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crdl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRDL correlations · VXX correlations
