NCTY vs VXX: Correlation
The9 Limited - American Depository Shares (NCTY) 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 -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NCTY and VXX?
Over the past 3 years, NCTY and VXX moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.16 over 1 year against -0.19 over 3. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -1108.4 %².
Out of 10 assets tracked against NCTY, VXX lands near the bottom at #9. Their 12-month results are close: -45.7% for NCTY against -49.7% for VXX. Risk is not evenly split, since NCTY carries 1.6 times the volatility of the other side.
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.
NCTY vs VXX: side by side
| NCTY (The9 Limited - American Depository Shares) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -45.7% | -49.7% |
| 5-year return | -97.0% | -95.6% |
| Volatility (ann.) | 95.1% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -83.1% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NCTY | VXX |
|---|---|---|
| 2022 | -91.5% | -23.8% |
| 2023 | +31.4% | -72.5% |
| 2024 | +94.1% | -26.2% |
| 2025 | -56.2% | -42.2% |
| 2026 | -26.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NCTY and VXX good diversifiers for each other?
Yes. With a correlation of -0.19, NCTY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NCTY and VXX?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.16 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for NCTY?
Yes. With a correlation of -0.19, NCTY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 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/ncty-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ncty-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NCTY correlations · VXX correlations
