CSPI vs VXZ: Correlation
How closely do CSP Inc. (CSPI) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSPI and VXZ?
Across a 3-year window, the weekly returns of CSPI and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.22, with an annualized covariance of -498.0 %².
Among the 12 assets we track against CSPI, VXZ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 21.0 percentage points (-37.1% for CSPI against -16.1% for VXZ). One caveat on sizing: CSPI is 2.9 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.
CSPI vs VXZ: side by side
| CSPI (CSP Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.1% | -16.1% |
| 5-year return | +76.7% | -53.1% |
| Volatility (ann.) | 74.2% | 25.6% |
| Beta vs S&P 500 | 1.67 | -1.31 |
| Max drawdown (3Y) | -73.4% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.52% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSPI | VXZ |
|---|---|---|
| 2022 | +8.0% | +0.5% |
| 2023 | +108.9% | -44.0% |
| 2024 | +66.1% | -12.7% |
| 2025 | -21.6% | +5.7% |
| 2026 | -36.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSPI 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 CSPI and VXZ?
The CSPI/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.29, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CSPI?
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?
A reading of -0.26 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/cspi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cspi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSPI correlations · VXZ correlations
