CTS vs VXZ: Correlation
How closely do CTS Corporation (CTS) 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 -0.57, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTS and VXZ?
Over the past 3 years, CTS and VXZ moved with a correlation of -0.57, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.30) runs above the 3-year figure (-0.57). Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -484.3 %².
Among the 26 assets we track against CTS, VXZ sits near the bottom by co-movement, at rank #25. Correlation aside, the last 12 months split them widely, with CTS ahead by 51.9 points (+35.8% 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.
CTS vs VXZ: side by side
| CTS (CTS Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.8% | -16.1% |
| 5-year return | +63.4% | -53.1% |
| Volatility (ann.) | 33.0% | 25.6% |
| Beta vs S&P 500 | 1.40 | -1.31 |
| Max drawdown (3Y) | -40.6% | -36.4% |
| Market cap | $1.6B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.28% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTS | VXZ |
|---|---|---|
| 2022 | +7.8% | +0.5% |
| 2023 | +11.4% | -44.0% |
| 2024 | +20.9% | -12.7% |
| 2025 | -18.4% | +5.7% |
| 2026 | +34.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.57, CTS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CTS and VXZ?
As of 2026-08-27, the correlation of weekly returns between CTS and VXZ is -0.57 over 3 years, -0.30 over 1 year and -0.47 over 5 years.
Is VXZ a good diversifier for CTS?
Yes. With a correlation of -0.57, CTS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 mean?
A reading of -0.57 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/cts-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cts-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTS correlations · VXZ correlations
