CVBF vs VXX: Correlation
CVB Financial Corporation (CVBF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVBF and VXX?
On 3 years of weekly data the CVBF/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.23 versus -0.46 over 3 years. The 5-year figure is -0.38, and annualized covariance runs at -844.2 %².
Among the 16 assets we track against CVBF, VXX sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with CVBF ahead by 63.3 points (+13.6% versus -49.7%). Note the risk asymmetry: VXX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CVBF vs VXX: side by side
| CVBF (CVB Financial Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.6% | -49.7% |
| 5-year return | +34.8% | -95.6% |
| Volatility (ann.) | 29.8% | 60.9% |
| Beta vs S&P 500 | 0.82 | -3.31 |
| Max drawdown (3Y) | -30.2% | -83.3% |
| Market cap | $3.9B | – |
| P/E (trailing) | 15.5 | – |
| Dividend yield | 3.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVBF | VXX |
|---|---|---|
| 2022 | +24.0% | -23.8% |
| 2023 | -18.5% | -72.5% |
| 2024 | +11.9% | -26.2% |
| 2025 | -9.4% | -42.2% |
| 2026 | +22.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVBF and VXX good diversifiers for each other?
Yes. With a correlation of -0.46, CVBF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CVBF and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.23 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for CVBF?
Yes. With a correlation of -0.46, CVBF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
On the −1 to +1 scale, -0.46 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvbf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvbf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVBF correlations · VXX correlations
