NAMS vs VXZ: Correlation
NewAmsterdam Pharma Company N.V. (NAMS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAMS and VXZ?
On 3 years of weekly data the NAMS/VXZ correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.08 versus -0.40 over 3 years. The 5-year figure is -0.28, and annualized covariance runs at -757.1 %².
VXZ is close to the least connected end of NAMS's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months NAMS outperformed by 25.6 percentage points (+9.5% for NAMS against -16.1% for VXZ). One caveat on sizing: NAMS is 2.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NAMS vs VXZ: side by side
| NAMS (NewAmsterdam Pharma Company N.V.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.5% | -16.1% |
| 5-year return | +177.3% | -53.1% |
| Volatility (ann.) | 74.2% | 25.6% |
| Beta vs S&P 500 | 1.73 | -1.31 |
| Max drawdown (3Y) | -45.4% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAMS | VXZ |
|---|---|---|
| 2022 | +11.8% | +0.5% |
| 2023 | +2.5% | -44.0% |
| 2024 | +130.1% | -12.7% |
| 2025 | +36.5% | +5.7% |
| 2026 | -23.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAMS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between NAMS and VXZ?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.08 over the last year and -0.28 over 5 years.
Is VXZ a good diversifier for NAMS?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/nams-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nams-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NAMS correlations · VXZ correlations
