NBIX vs VXZ: Correlation
Measured on weekly returns over the past three years, Neurocrine Biosciences, Inc. (NBIX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBIX and VXZ?
On 3 years of weekly data the NBIX/VXZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.20 over 1 year against -0.24 over 3. The 5-year figure is -0.21, and annualized covariance runs at -196.0 %².
Among the 10 assets we track against NBIX, VXZ sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with NBIX ahead by 29.0 points (+12.9% versus -16.1%).
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 VXZ: side by side
| NBIX (Neurocrine Biosciences, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.9% | -16.1% |
| 5-year return | +62.5% | -53.1% |
| Volatility (ann.) | 31.8% | 25.6% |
| Beta vs S&P 500 | 0.60 | -1.31 |
| Max drawdown (3Y) | -42.9% | -36.4% |
| Market cap | $15.8B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBIX | VXZ |
|---|---|---|
| 2022 | +40.2% | +0.5% |
| 2023 | +10.3% | -44.0% |
| 2024 | +3.6% | -12.7% |
| 2025 | +3.9% | +5.7% |
| 2026 | +9.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBIX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.24, NBIX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NBIX and VXZ?
The NBIX/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.20, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NBIX?
Yes. With a correlation of -0.24, NBIX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbix-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NBIX correlations · VXZ correlations
