CVSA vs VXX: Correlation
How closely do Covista Inc. (CVSA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVSA and VXX?
On 3 years of weekly data the CVSA/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.27). The 5-year figure is -0.27, and annualized covariance runs at -750.0 %².
Among the 16 assets we track against CVSA, VXX sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with CVSA ahead by 54.2 points (+4.5% versus -49.7%).
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.
CVSA vs VXX: side by side
| CVSA (Covista Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.5% | -49.7% |
| 5-year return | +282.8% | -95.6% |
| Volatility (ann.) | 46.4% | 60.9% |
| Beta vs S&P 500 | 0.67 | -3.31 |
| Max drawdown (3Y) | -42.1% | -83.3% |
| Market cap | $4.8B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVSA | VXX |
|---|---|---|
| 2022 | +20.1% | -23.8% |
| 2023 | +66.1% | -72.5% |
| 2024 | +54.1% | -26.2% |
| 2025 | +13.9% | -42.2% |
| 2026 | +36.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVSA and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CVSA and VXX?
The CVSA/VXX correlation stands at -0.27 on a 3-year window (1 year: -0.12, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CVSA?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/cvsa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvsa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CVSA correlations · VXX correlations
