NGVC vs VXX: Correlation
Measured on weekly returns over the past three years, Natural Grocers by Vitamin Cottage, Inc. (NGVC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) 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 NGVC and VXX?
On 3 years of weekly data the NGVC/VXX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.13) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -646.6 %².
VXX is close to the least connected end of NGVC's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months NGVC outperformed by 19.9 percentage points (-29.8% for NGVC 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.
NGVC vs VXX: side by side
| NGVC (Natural Grocers by Vitamin Cottage, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -29.8% | -49.7% |
| 5-year return | +184.3% | -95.6% |
| Volatility (ann.) | 51.4% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -59.9% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 2.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGVC | VXX |
|---|---|---|
| 2022 | -34.0% | -23.8% |
| 2023 | +91.8% | -72.5% |
| 2024 | +152.5% | -26.2% |
| 2025 | -36.1% | -42.2% |
| 2026 | +10.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGVC and VXX good diversifiers for each other?
Yes. With a correlation of -0.21, NGVC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NGVC and VXX?
As of 2026-08-27, the correlation of weekly returns between NGVC and VXX is -0.21 over 3 years, -0.13 over 1 year and -0.14 over 5 years.
Is VXX a good diversifier for NGVC?
Yes. With a correlation of -0.21, NGVC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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/ngvc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngvc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NGVC correlations · VXX correlations
