CRM vs VXZ: Correlation
How closely do Salesforce (CRM) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRM and VXZ?
Across a 3-year window, the weekly returns of CRM and VXZ correlate at -0.39, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.26) runs above the 3-year figure (-0.39). Stretching to 5 years gives -0.43, with an annualized covariance of -375.8 %².
Among the 68 assets we track against CRM, VXZ sits near the bottom by co-movement, at rank #67. Their recent paths diverged sharply: over the last 12 months CRM outperformed by 17.7 percentage points (+1.6% for CRM 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.
CRM vs VXZ: side by side
| CRM (Salesforce) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.6% | -16.1% |
| 5-year return | -3.2% | -53.1% |
| Volatility (ann.) | 37.6% | 25.6% |
| Beta vs S&P 500 | 1.21 | -1.31 |
| Max drawdown (3Y) | -58.7% | -36.4% |
| Market cap | $207.4B | – |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CRM | VXZ |
|---|---|---|
| 2022 | -47.8% | +0.5% |
| 2023 | +98.5% | -44.0% |
| 2024 | +27.8% | -12.7% |
| 2025 | -20.2% | +5.7% |
| 2026 | -4.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between CRM and VXZ?
As of 2026-08-27, the correlation of weekly returns between CRM and VXZ is -0.39 over 3 years, -0.26 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for CRM?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRM correlations · VXZ correlations
