CXW vs VXX: Correlation
CoreCivic, Inc. (CXW) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CXW and VXX?
Across a 3-year window, the weekly returns of CXW and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Stretching to 5 years gives -0.29, with an annualized covariance of -1020.6 %².
VXX is close to the least connected end of CXW's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months CXW outperformed by 114.2 percentage points (+64.5% for CXW against -49.7% for VXX).
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.
CXW vs VXX: side by side
| CXW (CoreCivic, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +64.5% | -49.7% |
| 5-year return | +251.2% | -95.6% |
| Volatility (ann.) | 53.5% | 60.9% |
| Beta vs S&P 500 | 0.94 | -3.31 |
| Max drawdown (3Y) | -32.6% | -83.3% |
| Market cap | $3.3B | – |
| P/E (trailing) | 27.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CXW | VXX |
|---|---|---|
| 2022 | +15.9% | -23.8% |
| 2023 | +25.7% | -72.5% |
| 2024 | +49.6% | -26.2% |
| 2025 | -12.1% | -42.2% |
| 2026 | +76.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CXW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between CXW and VXX?
The CXW/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.22, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CXW?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/cxw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cxw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CXW correlations · VXX correlations
