CSX vs VXZ: Correlation
Measured on weekly returns over the past three years, CSX Corporation (CSX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSX and VXZ?
On 3 years of weekly data the CSX/VXZ correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.22) runs above the 3-year figure (-0.38). The 5-year figure is -0.39, and annualized covariance runs at -193.6 %².
VXZ is close to the least connected end of CSX's tracked universe, ranking #30 of 30. Correlation aside, the last 12 months split them widely, with CSX ahead by 76.7 points (+60.6% versus -16.1%).
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.
CSX vs VXZ: side by side
| CSX (CSX Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +60.6% | -16.1% |
| 5-year return | +66.2% | -53.1% |
| Volatility (ann.) | 19.7% | 25.6% |
| Beta vs S&P 500 | 0.62 | -1.31 |
| Max drawdown (3Y) | -29.4% | -36.4% |
| Market cap | $95.5B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 1.04% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CSX | VXZ |
|---|---|---|
| 2022 | -16.6% | +0.5% |
| 2023 | +13.5% | -44.0% |
| 2024 | -5.6% | -12.7% |
| 2025 | +14.1% | +5.7% |
| 2026 | +43.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSX and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CSX and VXZ?
The CSX/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.22, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for CSX?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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/csx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CSX correlations · VXZ correlations
