CRNC vs VXX: Correlation
Cerence Inc. (CRNC) 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 -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNC and VXX?
Across a 3-year window, the weekly returns of CRNC and VXX correlate at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.18 over 3 years. Stretching to 5 years gives -0.24, with an annualized covariance of -1531.3 %².
VXX is close to the least connected end of CRNC's tracked universe, ranking #20 of 21. Their recent paths diverged sharply: over the last 12 months CRNC outperformed by 29.9 percentage points (-19.8% for CRNC against -49.7% for VXX). Risk is not evenly split, since CRNC carries 2.2 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.
CRNC vs VXX: side by side
| CRNC (Cerence Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.8% | -49.7% |
| 5-year return | -92.5% | -95.6% |
| Volatility (ann.) | 136.3% | 60.9% |
| Beta vs S&P 500 | 2.35 | -3.31 |
| Max drawdown (3Y) | -90.9% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNC | VXX |
|---|---|---|
| 2022 | -75.8% | -23.8% |
| 2023 | +6.1% | -72.5% |
| 2024 | -60.1% | -26.2% |
| 2025 | +36.2% | -42.2% |
| 2026 | -21.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNC and VXX good diversifiers for each other?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CRNC and VXX?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.40 over the last year and -0.24 over 5 years.
Is VXX a good diversifier for CRNC?
Yes: at -0.18, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.18 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/crnc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crnc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRNC correlations · VXX correlations
