NI vs VXX: Correlation
NiSource (NI) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NI and VXX?
Over the past 3 years, NI and VXX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.22 over 3 years. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -233.9 %².
VXX is close to the least connected end of NI's tracked universe, ranking #34 of 38. Their recent paths diverged sharply: over the last 12 months NI outperformed by 48.8 percentage points (-0.9% for NI against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.4 times the volatility of the other side.
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.
NI vs VXX: side by side
| NI (NiSource) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.9% | -49.7% |
| 5-year return | +94.6% | -95.6% |
| Volatility (ann.) | 17.8% | 60.9% |
| Beta vs S&P 500 | 0.26 | -3.31 |
| Max drawdown (3Y) | -16.7% | -83.3% |
| Market cap | $19.6B | – |
| P/E (trailing) | 21.9 | – |
| Dividend yield | 1.41% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | NI | VXX |
|---|---|---|
| 2022 | +2.7% | -23.8% |
| 2023 | +0.5% | -72.5% |
| 2024 | +43.5% | -26.2% |
| 2025 | +16.8% | -42.2% |
| 2026 | +0.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NI and VXX good diversifiers for each other?
Yes. With a correlation of -0.22, NI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NI and VXX?
As of 2026-08-27, the correlation of weekly returns between NI and VXX is -0.22 over 3 years, -0.02 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for NI?
Yes. With a correlation of -0.22, NI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/ni-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ni-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NI correlations · VXX correlations
