CRDO vs VXZ: Correlation
Credo Technology Group Holding Ltd (CRDO) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDO and VXZ?
Across a 3-year window, the weekly returns of CRDO and VXZ correlate at -0.38, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -829.1 %².
VXZ is close to the least connected end of CRDO's tracked universe, ranking #18 of 20. The last year tells two different stories: CRDO led by 111.8 percentage points, +95.7% for CRDO against -16.1% for VXZ. Risk is not evenly split, since CRDO carries 3.3 times the volatility of the other side.
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.
CRDO vs VXZ: side by side
| CRDO (Credo Technology Group Holding Ltd) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +95.7% | -16.1% |
| 5-year return | +1962.1% | -53.1% |
| Volatility (ann.) | 84.8% | 25.6% |
| Beta vs S&P 500 | 3.44 | -1.31 |
| Max drawdown (3Y) | -61.1% | -36.4% |
| Market cap | $45.1B | – |
| P/E (trailing) | 90.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDO | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +46.3% | -44.0% |
| 2024 | +245.2% | -12.7% |
| 2025 | +114.1% | +5.7% |
| 2026 | +67.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.38, CRDO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRDO and VXZ?
The CRDO/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.38, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CRDO?
Yes. With a correlation of -0.38, CRDO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 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/crdo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crdo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRDO correlations · VXZ correlations
