CSV vs VXX: Correlation
Carriage Services, Inc. (CSV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSV and VXX?
Across a 3-year window, the weekly returns of CSV and VXX correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.29). Stretching to 5 years gives -0.23, with an annualized covariance of -545.1 %².
Among the 11 assets we track against CSV, VXX sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with CSV ahead by 27.5 points (-22.2% versus -49.7%). One caveat on sizing: VXX is 2.0 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.
CSV vs VXX: side by side
| CSV (Carriage Services, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.2% | -49.7% |
| 5-year return | -19.2% | -95.6% |
| Volatility (ann.) | 31.0% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -36.6% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 1.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSV | VXX |
|---|---|---|
| 2022 | -56.7% | -23.8% |
| 2023 | -7.7% | -72.5% |
| 2024 | +61.8% | -26.2% |
| 2025 | +7.3% | -42.2% |
| 2026 | -18.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSV and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between CSV and VXX?
The CSV/VXX correlation stands at -0.29 on a 3-year window (1 year: -0.18, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CSV?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 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/csv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CSV correlations · VXX correlations
