CSAN vs VXX: Correlation
Measured on weekly returns over the past three years, Cosan S.A. (CSAN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSAN and VXX?
Across a 3-year window, the weekly returns of CSAN and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.21, with an annualized covariance of -612.8 %².
VXX is close to the least connected end of CSAN's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with CSAN ahead by 17.7 points (-32.0% versus -49.7%).
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.
CSAN vs VXX: side by side
| CSAN (Cosan S.A.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -32.0% | -49.7% |
| 5-year return | -81.8% | -95.6% |
| Volatility (ann.) | 44.6% | 60.9% |
| Beta vs S&P 500 | 0.59 | -3.31 |
| Max drawdown (3Y) | -84.7% | -83.3% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSAN | VXX |
|---|---|---|
| 2022 | -14.6% | -23.8% |
| 2023 | +23.2% | -72.5% |
| 2024 | -64.0% | -26.2% |
| 2025 | -27.4% | -42.2% |
| 2026 | -29.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSAN and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, CSAN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CSAN and VXX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.23 over the last year and -0.21 over 5 years.
Is VXX a good diversifier for CSAN?
Yes. With a correlation of -0.23, CSAN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/csan-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csan-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSAN correlations · VXX correlations
