NHC vs VXX: Correlation
Measured on weekly returns over the past three years, National HealthCare Corporation (NHC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) 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 NHC and VXX?
Across a 3-year window, the weekly returns of NHC and VXX correlate at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.12) than the 3-year average (-0.30). Stretching to 5 years gives -0.29, with an annualized covariance of -553.9 %².
VXX is close to the least connected end of NHC's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months NHC outperformed by 151.6 percentage points (+101.9% for NHC against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NHC vs VXX: side by side
| NHC (National HealthCare Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +101.9% | -49.7% |
| 5-year return | +243.9% | -95.6% |
| Volatility (ann.) | 29.9% | 60.9% |
| Beta vs S&P 500 | 0.50 | -3.31 |
| Max drawdown (3Y) | -33.4% | -83.3% |
| Market cap | $3.5B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 1.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NHC | VXX |
|---|---|---|
| 2022 | -9.4% | -23.8% |
| 2023 | +60.8% | -72.5% |
| 2024 | +19.0% | -26.2% |
| 2025 | +30.3% | -42.2% |
| 2026 | +63.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NHC and VXX 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 NHC and VXX?
As of 2026-08-27, the correlation of weekly returns between NHC and VXX is -0.30 over 3 years, 0.12 over 1 year and -0.29 over 5 years.
Is VXX a good diversifier for NHC?
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?
A reading of -0.30 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/nhc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nhc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NHC correlations · VXX correlations
