NGNE vs VXZ: Correlation
Measured on weekly returns over the past three years, Neurogene Inc. (NGNE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGNE and VXZ?
Across a 3-year window, the weekly returns of NGNE and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.01 versus -0.30 over 3 years. Stretching to 5 years gives -0.23, with an annualized covariance of -779.7 %².
VXZ is close to the least connected end of NGNE's tracked universe, ranking #13 of 15. The last year tells two different stories: NGNE led by 108.3 percentage points, +92.2% for NGNE against -16.1% for VXZ. One caveat on sizing: NGNE is 4.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NGNE vs VXZ: side by side
| NGNE (Neurogene Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +92.2% | -16.1% |
| 5-year return | -76.7% | -53.1% |
| Volatility (ann.) | 102.1% | 25.6% |
| Beta vs S&P 500 | 2.68 | -1.31 |
| Max drawdown (3Y) | -89.7% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGNE | VXZ |
|---|---|---|
| 2022 | -89.4% | +0.5% |
| 2023 | +90.4% | -44.0% |
| 2024 | +18.0% | -12.7% |
| 2025 | -9.9% | +5.7% |
| 2026 | +83.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGNE and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NGNE and VXZ?
As of 2026-08-27, the correlation of weekly returns between NGNE and VXZ is -0.30 over 3 years, -0.01 over 1 year and -0.23 over 5 years.
Is VXZ a good diversifier for NGNE?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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/ngne-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngne-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NGNE correlations · VXZ correlations
