NBR vs VXX: Correlation
Measured on weekly returns over the past three years, Nabors Industries Ltd. (NBR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBR and VXX?
Over the past 3 years, NBR and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.27 over 3 years. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -1075.3 %².
Out of 18 assets tracked against NBR, VXX lands near the bottom at #18. The last year tells two different stories: NBR led by 203.0 percentage points, +153.3% for NBR against -49.7% for VXX.
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.
NBR vs VXX: side by side
| NBR (Nabors Industries Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +153.3% | -49.7% |
| 5-year return | +10.3% | -95.6% |
| Volatility (ann.) | 65.2% | 60.9% |
| Beta vs S&P 500 | 0.88 | -3.31 |
| Max drawdown (3Y) | -82.2% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBR | VXX |
|---|---|---|
| 2022 | +91.0% | -23.8% |
| 2023 | -47.3% | -72.5% |
| 2024 | -30.0% | -26.2% |
| 2025 | -5.0% | -42.2% |
| 2026 | +68.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBR and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between NBR and VXX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.06 over the last year and -0.30 over 5 years.
Is VXX a good diversifier for NBR?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/nbr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NBR correlations · VXX correlations
