NODK vs VXX: Correlation
Measured on weekly returns over the past three years, NI Holdings, Inc. (NODK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NODK and VXX?
Across a 3-year window, the weekly returns of NODK and VXX correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.24). Stretching to 5 years gives -0.28, with an annualized covariance of -328.6 %².
Among the 10 assets we track against NODK, VXX sits near the bottom by co-movement, at rank #9. The last year tells two different stories: NODK led by 64.4 percentage points, +14.7% for NODK against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.7 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.
NODK vs VXX: side by side
| NODK (NI Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.7% | -49.7% |
| 5-year return | -21.2% | -95.6% |
| Volatility (ann.) | 22.7% | 60.9% |
| Beta vs S&P 500 | 0.27 | -3.31 |
| Max drawdown (3Y) | -28.4% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 40.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NODK | VXX |
|---|---|---|
| 2022 | -29.8% | -23.8% |
| 2023 | -2.1% | -72.5% |
| 2024 | +20.9% | -26.2% |
| 2025 | -15.3% | -42.2% |
| 2026 | +14.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NODK and VXX good diversifiers for each other?
Yes. With a correlation of -0.24, NODK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NODK and VXX?
As of 2026-08-27, the correlation of weekly returns between NODK and VXX is -0.24 over 3 years, -0.13 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for NODK?
Yes. With a correlation of -0.24, NODK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/nodk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nodk-vs-vxx/)
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Related comparisons
Hubs: NODK correlations · VXX correlations
