CXDO vs VXZ: Correlation
How closely do Crexendo, Inc. (CXDO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) 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 CXDO and VXZ?
On 3 years of weekly data the CXDO/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.27 over 3 years. The 5-year figure is -0.22, and annualized covariance runs at -465.8 %².
Among the 13 assets we track against CXDO, VXZ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: CXDO led by 18.7 percentage points, +2.6% for CXDO against -16.1% for VXZ. Note the risk asymmetry: CXDO runs 2.6 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.
CXDO vs VXZ: side by side
| CXDO (Crexendo, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.6% | -16.1% |
| 5-year return | +9.7% | -53.1% |
| Volatility (ann.) | 67.1% | 25.6% |
| Beta vs S&P 500 | 1.77 | -1.31 |
| Max drawdown (3Y) | -60.4% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 49.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXDO | VXZ |
|---|---|---|
| 2022 | -61.7% | +0.5% |
| 2023 | +156.1% | -44.0% |
| 2024 | +7.8% | -12.7% |
| 2025 | +23.7% | +5.7% |
| 2026 | -0.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXDO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, CXDO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CXDO and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.16 over the last year and -0.22 over 5 years.
Is VXZ a good diversifier for CXDO?
Yes. With a correlation of -0.27, CXDO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/cxdo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cxdo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CXDO correlations · VXZ correlations
