NEE vs VXZ: Correlation
Measured on weekly returns over the past three years, NextEra Energy (NEE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEE and VXZ?
On 3 years of weekly data the NEE/VXZ correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.09) than the 3-year average (-0.21). The 5-year figure is -0.23, and annualized covariance runs at -140.6 %².
By 3-year correlation, VXZ places #24 of the 29 assets tracked against NEE. Correlation aside, the last 12 months split them widely, with NEE ahead by 32.3 points (+16.2% 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.
NEE vs VXZ: side by side
| NEE (NextEra Energy) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.2% | -16.1% |
| 5-year return | +12.9% | -53.1% |
| Volatility (ann.) | 26.5% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -28.8% | -36.4% |
| Market cap | $174.1B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.82% | – |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | NEE | VXZ |
|---|---|---|
| 2022 | -8.5% | +0.5% |
| 2023 | -25.3% | -44.0% |
| 2024 | +21.5% | -12.7% |
| 2025 | +15.5% | +5.7% |
| 2026 | +5.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between NEE and VXZ?
As of 2026-08-27, the correlation of weekly returns between NEE and VXZ is -0.21 over 3 years, 0.09 over 1 year and -0.23 over 5 years.
Is VXZ a good diversifier for NEE?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/nee-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nee-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEE correlations · VXZ correlations
