CSL vs VXX: Correlation
How closely do Carlisle Companies Incorporated (CSL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSL and VXX?
On 3 years of weekly data the CSL/VXX correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.24) runs above the 3-year figure (-0.45). The 5-year figure is -0.41, and annualized covariance runs at -919.9 %².
Out of 19 assets tracked against CSL, VXX lands near the bottom at #18. Correlation aside, the last 12 months split them widely, with CSL ahead by 43.3 points (-6.4% versus -49.7%). Risk is not evenly split, since VXX carries 1.8 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.
CSL vs VXX: side by side
| CSL (Carlisle Companies Incorporated) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.4% | -49.7% |
| 5-year return | +78.0% | -95.6% |
| Volatility (ann.) | 33.9% | 60.9% |
| Beta vs S&P 500 | 1.10 | -3.31 |
| Max drawdown (3Y) | -37.7% | -83.3% |
| Market cap | $14.3B | – |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 1.20% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSL | VXX |
|---|---|---|
| 2022 | -4.1% | -23.8% |
| 2023 | +34.3% | -72.5% |
| 2024 | +19.1% | -26.2% |
| 2025 | -12.3% | -42.2% |
| 2026 | +13.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between CSL and VXX?
The CSL/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.24, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CSL?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/csl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSL correlations · VXX correlations
