NAVI vs VXZ: Correlation
Navient Corporation (NAVI) 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 -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAVI and VXZ?
Across a 3-year window, the weekly returns of NAVI and VXZ correlate at -0.45, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.47 over 1 year against -0.45 over 3. Stretching to 5 years gives -0.47, with an annualized covariance of -370.2 %².
Among the 13 assets we track against NAVI, VXZ sits near the bottom by co-movement, at rank #13. The trailing year gives VXZ the advantage: -26.9% versus -16.1%, a 10.8-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.
NAVI vs VXZ: side by side
| NAVI (Navient Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -26.9% | -16.1% |
| 5-year return | -49.1% | -53.1% |
| Volatility (ann.) | 32.0% | 25.6% |
| Beta vs S&P 500 | 0.99 | -1.31 |
| Max drawdown (3Y) | -57.6% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.83% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAVI | VXZ |
|---|---|---|
| 2022 | -19.3% | +0.5% |
| 2023 | +17.6% | -44.0% |
| 2024 | -25.6% | -12.7% |
| 2025 | +2.6% | +5.7% |
| 2026 | -25.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAVI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.45, NAVI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NAVI and VXZ?
As of 2026-08-27, the correlation of weekly returns between NAVI and VXZ is -0.45 over 3 years, -0.47 over 1 year and -0.47 over 5 years.
Is VXZ a good diversifier for NAVI?
Yes. With a correlation of -0.45, NAVI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/navi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/navi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NAVI correlations · VXZ correlations
