CROX vs VXZ: Correlation
Measured on weekly returns over the past three years, Crocs, Inc. (CROX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CROX and VXZ?
Across a 3-year window, the weekly returns of CROX and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -313.0 %².
VXZ is close to the least connected end of CROX's tracked universe, ranking #10 of 10. Correlation aside, the last 12 months split them widely, with CROX ahead by 56.6 points (+40.5% versus -16.1%). One caveat on sizing: CROX is 1.9 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.
CROX vs VXZ: side by side
| CROX (Crocs, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +40.5% | -16.1% |
| 5-year return | -16.9% | -53.1% |
| Volatility (ann.) | 47.7% | 25.6% |
| Beta vs S&P 500 | 0.93 | -1.31 |
| Max drawdown (3Y) | -54.0% | -36.4% |
| Market cap | $5.8B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CROX | VXZ |
|---|---|---|
| 2022 | -15.4% | +0.5% |
| 2023 | -13.9% | -44.0% |
| 2024 | +17.3% | -12.7% |
| 2025 | -21.9% | +5.7% |
| 2026 | +42.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CROX and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CROX and VXZ?
As of 2026-08-27, the correlation of weekly returns between CROX and VXZ is -0.26 over 3 years, -0.33 over 1 year and -0.34 over 5 years.
Is VXZ a good diversifier for CROX?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/crox-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crox-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CROX correlations · VXZ correlations
