NBIX vs VXX: Correlation
Neurocrine Biosciences, Inc. (NBIX) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBIX and VXX?
On 3 years of weekly data the NBIX/VXX correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.19 lands near the 3-year figure. The 5-year figure is -0.22, and annualized covariance runs at -490.3 %².
VXX is close to the least connected end of NBIX's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months NBIX outperformed by 62.6 percentage points (+12.9% for NBIX against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NBIX vs VXX: side by side
| NBIX (Neurocrine Biosciences, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.9% | -49.7% |
| 5-year return | +62.5% | -95.6% |
| Volatility (ann.) | 31.8% | 60.9% |
| Beta vs S&P 500 | 0.60 | -3.31 |
| Max drawdown (3Y) | -42.9% | -83.3% |
| Market cap | $15.8B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBIX | VXX |
|---|---|---|
| 2022 | +40.2% | -23.8% |
| 2023 | +10.3% | -72.5% |
| 2024 | +3.6% | -26.2% |
| 2025 | +3.9% | -42.2% |
| 2026 | +9.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBIX and VXX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NBIX and VXX?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.19 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for NBIX?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/nbix-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbix-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NBIX correlations · VXX correlations
