NBXG vs VXZ: Correlation
Measured on weekly returns over the past three years, Neuberger Next Generation Connectivity Fund Inc. (NBXG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.61, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NBXG and VXZ?
Across a 3-year window, the weekly returns of NBXG and VXZ correlate at -0.61, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.47) runs above the 3-year figure (-0.61). Stretching to 5 years gives -0.58, with an annualized covariance of -346.6 %².
Among the 31 assets we track against NBXG, VXZ sits near the bottom by co-movement, at rank #29. The last year tells two different stories: NBXG led by 29.9 percentage points, +13.8% for NBXG against -16.1% for VXZ.
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.
NBXG vs VXZ: side by side
| NBXG (Neuberger Next Generation Connectivity Fund Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.8% | -16.1% |
| 5-year return | +25.6% | -53.1% |
| Volatility (ann.) | 22.4% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -22.1% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NBXG | VXZ |
|---|---|---|
| 2022 | -41.4% | +0.5% |
| 2023 | +34.9% | -44.0% |
| 2024 | +28.5% | -12.7% |
| 2025 | +24.2% | +5.7% |
| 2026 | +13.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NBXG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.61 means the two rarely move for the same reasons.
FAQ
What is the correlation between NBXG and VXZ?
As of 2026-08-27, the correlation of weekly returns between NBXG and VXZ is -0.61 over 3 years, -0.47 over 1 year and -0.58 over 5 years.
Is VXZ a good diversifier for NBXG?
By historical standards, yes. A correlation of -0.61 means the two rarely move for the same reasons.
What does a correlation of -0.61 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/nbxg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nbxg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NBXG correlations · VXZ correlations
