CRWD vs VXZ: Correlation
CrowdStrike (CRWD) 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 -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRWD and VXZ?
Over the past 3 years, CRWD and VXZ moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.37). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -477.1 %².
Among the 31 assets we track against CRWD, VXZ sits near the bottom by co-movement, at rank #29. The last year tells two different stories: CRWD led by 131.9 percentage points, +115.8% for CRWD against -16.1% for VXZ. Risk is not evenly split, since CRWD carries 2.0 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.
CRWD vs VXZ: side by side
| CRWD (CrowdStrike) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +115.8% | -16.1% |
| 5-year return | +218.4% | -53.1% |
| Volatility (ann.) | 50.2% | 25.6% |
| Beta vs S&P 500 | 1.87 | -1.31 |
| Max drawdown (3Y) | -44.4% | -36.4% |
| Market cap | $233.4B | – |
| P/E (trailing) | 3256.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CRWD | VXZ |
|---|---|---|
| 2022 | -48.6% | +0.5% |
| 2023 | +142.5% | -44.0% |
| 2024 | +34.0% | -12.7% |
| 2025 | +37.0% | +5.7% |
| 2026 | +94.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRWD and VXZ good diversifiers for each other?
Yes. With a correlation of -0.37, CRWD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRWD and VXZ?
The CRWD/VXZ correlation stands at -0.37 on a 3-year window (1 year: -0.15, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CRWD?
Yes. With a correlation of -0.37, CRWD and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crwd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crwd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRWD correlations · VXZ correlations
