CRGO vs VXX: Correlation
Freightos Limited (CRGO) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGO and VXX?
On 3 years of weekly data the CRGO/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.29). The 5-year figure is -0.24, and annualized covariance runs at -1481.4 %².
VXX is close to the least connected end of CRGO's tracked universe, ranking #10 of 12. On 12-month performance VXX holds a 12.0-point edge, -61.7% against -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.
CRGO vs VXX: side by side
| CRGO (Freightos Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -61.7% | -49.7% |
| 5-year return | -86.7% | -95.6% |
| Volatility (ann.) | 82.7% | 60.9% |
| Beta vs S&P 500 | 1.79 | -3.31 |
| Max drawdown (3Y) | -72.6% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRGO | VXX |
|---|---|---|
| 2022 | +4.2% | -23.8% |
| 2023 | -67.3% | -72.5% |
| 2024 | -8.4% | -26.2% |
| 2025 | -25.2% | -42.2% |
| 2026 | -43.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGO and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRGO and VXX?
As of 2026-08-27, the correlation of weekly returns between CRGO and VXX is -0.29 over 3 years, -0.03 over 1 year and -0.24 over 5 years.
Is VXX a good diversifier for CRGO?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
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/crgo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crgo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRGO correlations · VXX correlations
