CRON vs VXZ: Correlation
How closely do Cronos Group Inc. - Common Share (CRON) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRON and VXZ?
Over the past 3 years, CRON and VXZ moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -362.7 %².
Out of 13 assets tracked against CRON, VXZ lands near the bottom at #13. The last year tells two different stories: CRON led by 48.5 percentage points, +32.4% for CRON against -16.1% for VXZ. One caveat on sizing: CRON is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRON vs VXZ: side by side
| CRON (Cronos Group Inc. - Common Share) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.4% | -16.1% |
| 5-year return | -47.1% | -53.1% |
| Volatility (ann.) | 41.8% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -46.4% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRON | VXZ |
|---|---|---|
| 2022 | -35.2% | +0.5% |
| 2023 | -17.7% | -44.0% |
| 2024 | -3.3% | -12.7% |
| 2025 | +30.2% | +5.7% |
| 2026 | +28.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRON and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, CRON and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRON and VXZ?
The CRON/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.30, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CRON?
Yes. With a correlation of -0.34, CRON and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 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/cron-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cron-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRON correlations · VXZ correlations
