CXM vs VXZ: Correlation
How closely do Sprinklr, Inc. (CXM) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXM and VXZ?
Over the past 3 years, CXM and VXZ moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.35 over 3. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -366.9 %².
Out of 13 assets tracked against CXM, VXZ lands near the bottom at #12. Over the last 12 months CXM came out ahead by 7.8 percentage points (-8.3% against -16.1%). Risk is not evenly split, since CXM carries 1.6 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.
CXM vs VXZ: side by side
| CXM (Sprinklr, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.3% | -16.1% |
| 5-year return | -49.6% | -53.1% |
| Volatility (ann.) | 40.4% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -71.1% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 61.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXM | VXZ |
|---|---|---|
| 2022 | -48.5% | +0.5% |
| 2023 | +47.4% | -44.0% |
| 2024 | -29.8% | -12.7% |
| 2025 | -7.9% | +5.7% |
| 2026 | +2.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXM and VXZ good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CXM and VXZ?
As of 2026-08-27, the correlation of weekly returns between CXM and VXZ is -0.35 over 3 years, -0.25 over 1 year and -0.36 over 5 years.
Is VXZ a good diversifier for CXM?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
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/cxm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cxm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CXM correlations · VXZ correlations
