NEXA vs VXX: Correlation
Nexa Resources S.A. (NEXA) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEXA and VXX?
Across a 3-year window, the weekly returns of NEXA and VXX correlate at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.25). Stretching to 5 years gives -0.25, with an annualized covariance of -797.5 %².
Out of 10 assets tracked against NEXA, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months NEXA outperformed by 244.7 percentage points (+195.0% for NEXA against -49.7% for VXX).
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.
NEXA vs VXX: side by side
| NEXA (Nexa Resources S.A.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +195.0% | -49.7% |
| 5-year return | +88.5% | -95.6% |
| Volatility (ann.) | 52.5% | 60.9% |
| Beta vs S&P 500 | 1.09 | -3.31 |
| Max drawdown (3Y) | -47.0% | -83.3% |
| Market cap | $1.8B | – |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEXA | VXX |
|---|---|---|
| 2022 | -20.1% | -23.8% |
| 2023 | +22.1% | -72.5% |
| 2024 | +23.2% | -26.2% |
| 2025 | +2.7% | -42.2% |
| 2026 | +58.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEXA and VXX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NEXA and VXX?
The NEXA/VXX correlation stands at -0.25 on a 3-year window (1 year: -0.41, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NEXA?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/nexa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nexa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NEXA correlations · VXX correlations
