CZNC vs VXX: Correlation
How closely do Citizens & Northern Corp (CZNC) 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 -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CZNC and VXX?
Over the past 3 years, CZNC and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.42). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -712.7 %².
Among the 14 assets we track against CZNC, VXX sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with CZNC ahead by 82.2 points (+32.5% versus -49.7%). Note the risk asymmetry: VXX runs 2.2 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.
CZNC vs VXX: side by side
| CZNC (Citizens & Northern Corp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.5% | -49.7% |
| 5-year return | +31.8% | -95.6% |
| Volatility (ann.) | 27.6% | 60.9% |
| Beta vs S&P 500 | 0.57 | -3.31 |
| Max drawdown (3Y) | -26.1% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 4.42% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CZNC | VXX |
|---|---|---|
| 2022 | -8.4% | -23.8% |
| 2023 | +3.7% | -72.5% |
| 2024 | -12.2% | -26.2% |
| 2025 | +14.9% | -42.2% |
| 2026 | +31.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CZNC and VXX good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CZNC and VXX?
The CZNC/VXX correlation stands at -0.42 on a 3-year window (1 year: -0.07, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CZNC?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 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/cznc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cznc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CZNC correlations · VXX correlations
