CTNM vs VXZ: Correlation
How closely do Contineum Therapeutics, Inc. (CTNM) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTNM and VXZ?
Over the past 3 years, CTNM and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.13 versus -0.28 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -510.9 %².
Out of 14 assets tracked against CTNM, VXZ lands near the bottom at #13. The last year tells two different stories: CTNM led by 88.4 percentage points, +72.3% for CTNM against -16.1% for VXZ. One caveat on sizing: CTNM is 2.8 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.
CTNM vs VXZ: side by side
| CTNM (Contineum Therapeutics, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +72.3% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 72.4% | 25.6% |
| Beta vs S&P 500 | 0.55 | -1.31 |
| Max drawdown (3Y) | -84.4% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTNM | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | -22.0% | +5.7% |
| 2026 | +50.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTNM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTNM and VXZ?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.13 over the last year and n/a over 5 years.
Is VXZ a good diversifier for CTNM?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
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/ctnm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctnm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTNM correlations · VXZ correlations
