NDSN vs VXZ: Correlation
Nordson Corporation (NDSN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDSN and VXZ?
Across a 3-year window, the weekly returns of NDSN and VXZ correlate at -0.47, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. Stretching to 5 years gives -0.53, with an annualized covariance of -295.1 %².
Out of 39 assets tracked against NDSN, VXZ lands near the bottom at #38. Their recent paths diverged sharply: over the last 12 months NDSN outperformed by 64.6 percentage points (+48.5% for NDSN 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.
NDSN vs VXZ: side by side
| NDSN (Nordson Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +48.5% | -16.1% |
| 5-year return | +46.5% | -53.1% |
| Volatility (ann.) | 24.7% | 25.6% |
| Beta vs S&P 500 | 0.97 | -1.31 |
| Max drawdown (3Y) | -39.1% | -36.4% |
| Market cap | $18.4B | – |
| P/E (trailing) | 33.5 | – |
| Dividend yield | 0.98% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | NDSN | VXZ |
|---|---|---|
| 2022 | -5.9% | +0.5% |
| 2023 | +12.4% | -44.0% |
| 2024 | -20.1% | -12.7% |
| 2025 | +17.0% | +5.7% |
| 2026 | +38.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDSN and VXZ good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NDSN and VXZ?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.40 over the last year and -0.53 over 5 years.
Is VXZ a good diversifier for NDSN?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/ndsn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ndsn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NDSN correlations · VXZ correlations
