CRF vs VXZ: Correlation
How closely do Cornerstone Total Return Fund, Inc. (The) (CRF) 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 -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRF and VXZ?
Across a 3-year window, the weekly returns of CRF and VXZ correlate at -0.46, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.41 over 1 year against -0.46 over 3. Stretching to 5 years gives -0.42, with an annualized covariance of -250.4 %².
Among the 12 assets we track against CRF, VXZ sits near the bottom by co-movement, at rank #10. Over the last 12 months CRF came out ahead by 14.4 percentage points (-1.7% against -16.1%).
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.
CRF vs VXZ: side by side
| CRF (Cornerstone Total Return Fund, Inc. (The)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.7% | -16.1% |
| 5-year return | +29.2% | -53.1% |
| Volatility (ann.) | 21.5% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -29.6% | -36.4% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 21.80% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRF | VXZ |
|---|---|---|
| 2022 | -36.7% | +0.5% |
| 2023 | +19.4% | -44.0% |
| 2024 | +44.5% | -12.7% |
| 2025 | +12.5% | +5.7% |
| 2026 | -9.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRF and VXZ good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRF and VXZ?
The CRF/VXZ correlation stands at -0.46 on a 3-year window (1 year: -0.41, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CRF?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 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/crf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRF correlations · VXZ correlations
