NBH vs VXX: Correlation
Neuberger Municipal Fund Inc. (NBH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBH and VXX?
On 3 years of weekly data the NBH/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. The 5-year figure is -0.27, and annualized covariance runs at -258.6 %².
Out of 17 assets tracked against NBH, VXX lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with NBH ahead by 59.9 points (+10.2% versus -49.7%). One caveat on sizing: VXX is 5.3 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.
NBH vs VXX: side by side
| NBH (Neuberger Municipal Fund Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.2% | -49.7% |
| 5-year return | -21.0% | -95.6% |
| Volatility (ann.) | 11.4% | 60.9% |
| Beta vs S&P 500 | 0.30 | -3.31 |
| Max drawdown (3Y) | -11.1% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 14.6 | – |
| Dividend yield | 6.35% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBH | VXX |
|---|---|---|
| 2022 | -28.2% | -23.8% |
| 2023 | +4.0% | -72.5% |
| 2024 | +5.3% | -26.2% |
| 2025 | +4.2% | -42.2% |
| 2026 | +4.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBH and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between NBH and VXX?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.37 over the last year and -0.27 over 5 years.
Is VXX a good diversifier for NBH?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 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/nbh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NBH correlations · VXX correlations
