CXT vs VXX: Correlation
How closely do Crane NXT, Co. (CXT) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXT and VXX?
Over the past 3 years, CXT and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.22) than the 3-year average (-0.37). Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -809.1 %².
Out of 11 assets tracked against CXT, VXX lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with CXT ahead by 32.3 points (-17.4% versus -49.7%). Risk is not evenly split, since VXX carries 1.7 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.
CXT vs VXX: side by side
| CXT (Crane NXT, Co.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.4% | -49.7% |
| 5-year return | +48.9% | -95.6% |
| Volatility (ann.) | 35.7% | 60.9% |
| Beta vs S&P 500 | 0.98 | -3.31 |
| Max drawdown (3Y) | -47.0% | -83.3% |
| Market cap | $2.9B | – |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 1.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXT | VXX |
|---|---|---|
| 2022 | +0.6% | -23.8% |
| 2023 | +64.9% | -72.5% |
| 2024 | +3.5% | -26.2% |
| 2025 | -18.2% | -42.2% |
| 2026 | +6.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between CXT and VXX?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.22 over the last year and -0.41 over 5 years.
Is VXX a good diversifier for CXT?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 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/cxt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cxt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CXT correlations · VXX correlations
