NATH vs VXZ: Correlation
Measured on weekly returns over the past three years, Nathan's Famous, Inc. (NATH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATH and VXZ?
On 3 years of weekly data the NATH/VXZ correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.30). The 5-year figure is -0.33, and annualized covariance runs at -191.6 %².
Among the 14 assets we track against NATH, VXZ sits near the bottom by co-movement, at rank #14. The trailing year gives NATH the advantage: -5.5% versus -16.1%, a 10.6-point spread.
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 VXZ: side by side
| NATH (Nathan's Famous, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.5% | -16.1% |
| 5-year return | +68.7% | -53.1% |
| Volatility (ann.) | 25.3% | 25.6% |
| Beta vs S&P 500 | 0.50 | -1.31 |
| Max drawdown (3Y) | -19.5% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 2.05% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NATH | VXZ |
|---|---|---|
| 2022 | +18.7% | +0.5% |
| 2023 | +19.2% | -44.0% |
| 2024 | +3.5% | -12.7% |
| 2025 | +24.6% | +5.7% |
| 2026 | +5.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between NATH and VXZ?
The NATH/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.19, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NATH?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/nath-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nath-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NATH correlations · VXZ correlations
