NEWT vs VXX: Correlation
NewtekOne, Inc. (NEWT) 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 -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWT and VXX?
On 3 years of weekly data the NEWT/VXX correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.36 over 1 year against -0.43 over 3. The 5-year figure is -0.39, and annualized covariance runs at -1018.6 %².
Among the 17 assets we track against NEWT, VXX sits near the bottom by co-movement, at rank #16. Their recent paths diverged sharply: over the last 12 months NEWT outperformed by 55.6 percentage points (+5.9% for NEWT against -49.7% for VXX). Risk is not evenly split, since VXX 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.
NEWT vs VXX: side by side
| NEWT (NewtekOne, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.9% | -49.7% |
| 5-year return | -35.1% | -95.6% |
| Volatility (ann.) | 38.9% | 60.9% |
| Beta vs S&P 500 | 1.15 | -3.31 |
| Max drawdown (3Y) | -43.8% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 5.6 | – |
| Dividend yield | 6.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEWT | VXX |
|---|---|---|
| 2022 | -33.2% | -23.8% |
| 2023 | -10.7% | -72.5% |
| 2024 | -1.6% | -26.2% |
| 2025 | -4.9% | -42.2% |
| 2026 | +11.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWT and VXX good diversifiers for each other?
Yes. With a correlation of -0.43, NEWT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NEWT and VXX?
The NEWT/VXX correlation stands at -0.43 on a 3-year window (1 year: -0.36, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NEWT?
Yes. With a correlation of -0.43, NEWT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 mean?
A reading of -0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/newt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/newt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NEWT correlations · VXX correlations
