CRNX vs VXZ: Correlation
Crinetics Pharmaceuticals, Inc. (CRNX) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRNX and VXZ?
Across a 3-year window, the weekly returns of CRNX and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.24). Stretching to 5 years gives -0.22, with an annualized covariance of -556.5 %².
Among the 12 assets we track against CRNX, VXZ sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months CRNX outperformed by 195.2 percentage points (+179.1% for CRNX against -16.1% for VXZ). Note the risk asymmetry: CRNX runs 3.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CRNX vs VXZ: side by side
| CRNX (Crinetics Pharmaceuticals, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +179.1% | -16.1% |
| 5-year return | +269.7% | -53.1% |
| Volatility (ann.) | 91.7% | 25.6% |
| Beta vs S&P 500 | 1.58 | -1.31 |
| Max drawdown (3Y) | -57.9% | -36.4% |
| Market cap | $9.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRNX | VXZ |
|---|---|---|
| 2022 | -35.6% | +0.5% |
| 2023 | +94.4% | -44.0% |
| 2024 | +43.7% | -12.7% |
| 2025 | -9.0% | +5.7% |
| 2026 | +82.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRNX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.24, CRNX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRNX and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.13 over the last year and -0.22 over 5 years.
Is VXZ a good diversifier for CRNX?
Yes. With a correlation of -0.24, CRNX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/crnx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crnx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRNX correlations · VXZ correlations
