NGS vs VXX: Correlation
How closely do Natural Gas Services Group, Inc. (NGS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGS and VXX?
On 3 years of weekly data the NGS/VXX correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.02) than the 3-year average (-0.36). The 5-year figure is -0.29, and annualized covariance runs at -991.5 %².
VXX is close to the least connected end of NGS's tracked universe, ranking #12 of 13. The last year tells two different stories: NGS led by 87.6 percentage points, +37.9% for NGS 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.
NGS vs VXX: side by side
| NGS (Natural Gas Services Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.9% | -49.7% |
| 5-year return | +274.7% | -95.6% |
| Volatility (ann.) | 45.0% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -40.9% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 21.7 | – |
| Dividend yield | 1.35% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGS | VXX |
|---|---|---|
| 2022 | +9.5% | -23.8% |
| 2023 | +40.3% | -72.5% |
| 2024 | +66.7% | -26.2% |
| 2025 | +26.5% | -42.2% |
| 2026 | +6.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGS and VXX good diversifiers for each other?
Yes. With a correlation of -0.36, NGS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NGS and VXX?
The NGS/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.02, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NGS?
Yes. With a correlation of -0.36, NGS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/ngs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NGS correlations · VXX correlations
