CTEV vs VXZ: Correlation
How closely do Claritev Corporation (CTEV) 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 -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTEV and VXZ?
Across a 3-year window, the weekly returns of CTEV and VXZ correlate at -0.18, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.19) sits close to the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -738.3 %².
Among the 12 assets we track against CTEV, VXZ sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with VXZ ahead by 29.9 points (-46.0% versus -16.1%). Risk is not evenly split, since CTEV carries 6.3 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.
CTEV vs VXZ: side by side
| CTEV (Claritev Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -46.0% | -16.1% |
| 5-year return | -83.9% | -53.1% |
| Volatility (ann.) | 161.9% | 25.6% |
| Beta vs S&P 500 | 1.96 | -1.31 |
| Max drawdown (3Y) | -93.4% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTEV | VXZ |
|---|---|---|
| 2022 | -74.0% | +0.5% |
| 2023 | +25.2% | -44.0% |
| 2024 | -74.3% | -12.7% |
| 2025 | +189.2% | +5.7% |
| 2026 | -9.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTEV and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTEV and VXZ?
As of 2026-08-27, the correlation of weekly returns between CTEV and VXZ is -0.18 over 3 years, -0.19 over 1 year and -0.17 over 5 years.
Is VXZ a good diversifier for CTEV?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ctev-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctev-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTEV correlations · VXZ correlations
