CWCO vs VXX: Correlation
Consolidated Water Co. Ltd. (CWCO) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWCO and VXX?
Over the past 3 years, CWCO and VXX moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.35). Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -666.4 %².
Out of 12 assets tracked against CWCO, VXX lands near the bottom at #11. The last year tells two different stories: CWCO led by 41.4 percentage points, -8.3% for CWCO against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.0 times the volatility of the other side.
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.
CWCO vs VXX: side by side
| CWCO (Consolidated Water Co. Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.3% | -49.7% |
| 5-year return | +171.8% | -95.6% |
| Volatility (ann.) | 30.8% | 60.9% |
| Beta vs S&P 500 | 0.65 | -3.31 |
| Max drawdown (3Y) | -38.2% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 29.5 | – |
| Dividend yield | 1.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWCO | VXX |
|---|---|---|
| 2022 | +42.6% | -23.8% |
| 2023 | +144.2% | -72.5% |
| 2024 | -26.5% | -26.2% |
| 2025 | +38.7% | -42.2% |
| 2026 | -13.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWCO and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between CWCO and VXX?
The CWCO/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.20, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CWCO?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/cwco-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cwco-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CWCO correlations · VXX correlations
