CTSH vs VXZ: Correlation
Measured on weekly returns over the past three years, Cognizant (CTSH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) 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 CTSH and VXZ?
Across a 3-year window, the weekly returns of CTSH and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.16) than the 3-year average (-0.31). Stretching to 5 years gives -0.34, with an annualized covariance of -252.8 %².
Out of 44 assets tracked against CTSH, VXZ lands near the bottom at #43. Over the last 12 months CTSH came out ahead by 6.3 percentage points (-9.8% against -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.
CTSH vs VXZ: side by side
| CTSH (Cognizant) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.8% | -16.1% |
| 5-year return | -9.6% | -53.1% |
| Volatility (ann.) | 32.3% | 25.6% |
| Beta vs S&P 500 | 0.89 | -1.31 |
| Max drawdown (3Y) | -56.1% | -36.4% |
| Market cap | $28.7B | – |
| P/E (trailing) | 13.3 | – |
| Dividend yield | 2.09% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CTSH | VXZ |
|---|---|---|
| 2022 | -34.5% | +0.5% |
| 2023 | +34.4% | -44.0% |
| 2024 | +3.5% | -12.7% |
| 2025 | +9.7% | +5.7% |
| 2026 | -21.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTSH and VXZ 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 CTSH and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.16 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for CTSH?
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?
A reading of -0.31 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/ctsh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctsh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTSH correlations · VXZ correlations
