CTKB vs VXZ: Correlation
Cytek Biosciences, Inc. (CTKB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTKB and VXZ?
Over the past 3 years, CTKB and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.28). Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -479.4 %².
VXZ is close to the least connected end of CTKB's tracked universe, ranking #10 of 11. The last year tells two different stories: CTKB led by 29.1 percentage points, +13.0% for CTKB against -16.1% for VXZ. Risk is not evenly split, since CTKB carries 2.6 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.
CTKB vs VXZ: side by side
| CTKB (Cytek Biosciences, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.0% | -16.1% |
| 5-year return | -77.1% | -53.1% |
| Volatility (ann.) | 66.0% | 25.6% |
| Beta vs S&P 500 | 1.34 | -1.31 |
| Max drawdown (3Y) | -74.6% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTKB | VXZ |
|---|---|---|
| 2022 | -37.4% | +0.5% |
| 2023 | -10.7% | -44.0% |
| 2024 | -28.8% | -12.7% |
| 2025 | -22.2% | +5.7% |
| 2026 | -8.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTKB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, CTKB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CTKB and VXZ?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.10 over the last year and -0.24 over 5 years.
Is VXZ a good diversifier for CTKB?
Yes. With a correlation of -0.28, CTKB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/ctkb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctkb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTKB correlations · VXZ correlations
