NNE vs VXZ: Correlation
How closely do Nano Nuclear Energy Inc. (NNE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNE and VXZ?
Over the past 3 years, NNE and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1121.3 %².
VXZ is close to the least connected end of NNE's tracked universe, ranking #16 of 18. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 25.4 percentage points (-41.5% for NNE against -16.1% for VXZ). Note the risk asymmetry: NNE runs 6.1 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.
NNE vs VXZ: side by side
| NNE (Nano Nuclear Energy Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -41.5% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 155.1% | 25.6% |
| Beta vs S&P 500 | 4.18 | -1.31 |
| Max drawdown (3Y) | -77.7% | -36.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNE | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | -3.6% | +5.7% |
| 2026 | -19.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNE and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, NNE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NNE and VXZ?
As of 2026-08-27, the correlation of weekly returns between NNE and VXZ is -0.28 over 3 years, -0.27 over 1 year and n/a over 5 years.
Is VXZ a good diversifier for NNE?
Yes. With a correlation of -0.28, NNE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/nne-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nne-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NNE correlations · VXZ correlations
