NATH vs VXX: Correlation
How closely do Nathan's Famous, Inc. (NATH) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATH and VXX?
Across a 3-year window, the weekly returns of NATH and VXX correlate at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.30). Stretching to 5 years gives -0.32, with an annualized covariance of -461.2 %².
VXX is close to the least connected end of NATH's tracked universe, ranking #13 of 14. Correlation aside, the last 12 months split them widely, with NATH ahead by 44.2 points (-5.5% versus -49.7%). Risk is not evenly split, since VXX carries 2.4 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.
NATH vs VXX: side by side
| NATH (Nathan's Famous, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.5% | -49.7% |
| 5-year return | +68.7% | -95.6% |
| Volatility (ann.) | 25.3% | 60.9% |
| Beta vs S&P 500 | 0.50 | -3.31 |
| Max drawdown (3Y) | -19.5% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 2.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NATH | VXX |
|---|---|---|
| 2022 | +18.7% | -23.8% |
| 2023 | +19.2% | -72.5% |
| 2024 | +3.5% | -26.2% |
| 2025 | +24.6% | -42.2% |
| 2026 | +5.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATH and VXX good diversifiers for each other?
Yes. With a correlation of -0.30, NATH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NATH and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.08 over the last year and -0.32 over 5 years.
Is VXX a good diversifier for NATH?
Yes. With a correlation of -0.30, NATH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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/nath-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nath-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NATH correlations · VXX correlations
