CWH vs VXX: Correlation
Camping World Holdings, Inc. (CWH) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWH and VXX?
Over the past 3 years, CWH and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.32 versus -0.44 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -1636.2 %².
Among the 28 assets we track against CWH, VXX sits near the bottom by co-movement, at rank #27. On 12-month performance VXX holds a 13.3-point edge, -63.0% against -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.
CWH vs VXX: side by side
| CWH (Camping World Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -63.0% | -49.7% |
| 5-year return | -79.9% | -95.6% |
| Volatility (ann.) | 60.7% | 60.9% |
| Beta vs S&P 500 | 2.02 | -3.31 |
| Max drawdown (3Y) | -79.1% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWH | VXX |
|---|---|---|
| 2022 | -39.6% | -23.8% |
| 2023 | +25.1% | -72.5% |
| 2024 | -17.9% | -26.2% |
| 2025 | -52.2% | -42.2% |
| 2026 | -33.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWH and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, CWH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CWH and VXX?
As of 2026-08-27, the correlation of weekly returns between CWH and VXX is -0.44 over 3 years, -0.32 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for CWH?
Yes. With a correlation of -0.44, CWH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cwh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cwh-vs-vxx/)
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Related comparisons
Hubs: CWH correlations · VXX correlations
