CTAS vs VXX: Correlation
Measured on weekly returns over the past three years, Cintas (CTAS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and VXX?
Across a 3-year window, the weekly returns of CTAS and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.31). Stretching to 5 years gives -0.38, with an annualized covariance of -434.8 %².
Out of 38 assets tracked against CTAS, VXX lands near the bottom at #37. Correlation aside, the last 12 months split them widely, with CTAS ahead by 46.4 points (-3.3% versus -49.7%). Note the risk asymmetry: VXX runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CTAS vs VXX: side by side
| CTAS (Cintas) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.3% | -49.7% |
| 5-year return | +117.4% | -95.6% |
| Volatility (ann.) | 23.2% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -27.7% | -83.3% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CTAS | VXX |
|---|---|---|
| 2022 | +3.0% | -23.8% |
| 2023 | +34.8% | -72.5% |
| 2024 | +22.2% | -26.2% |
| 2025 | +3.8% | -42.2% |
| 2026 | +9.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTAS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTAS and VXX?
The CTAS/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.13, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CTAS?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/ctas-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctas-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CTAS correlations · VXX correlations
