NPCT vs VXX: Correlation
How closely do Nuveen Core Plus Impact Fund (NPCT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPCT and VXX?
Across a 3-year window, the weekly returns of NPCT and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.55) runs below the 3-year figure (-0.42). Stretching to 5 years gives -0.39, with an annualized covariance of -295.7 %².
VXX is close to the least connected end of NPCT's tracked universe, ranking #16 of 17. The last year tells two different stories: NPCT led by 49.4 percentage points, -0.3% for NPCT against -49.7% for VXX. Risk is not evenly split, since VXX carries 5.2 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.
NPCT vs VXX: side by side
| NPCT (Nuveen Core Plus Impact Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.3% | -49.7% |
| 5-year return | -14.4% | -95.6% |
| Volatility (ann.) | 11.7% | 60.9% |
| Beta vs S&P 500 | 0.38 | -3.31 |
| Max drawdown (3Y) | -10.8% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPCT | VXX |
|---|---|---|
| 2022 | -37.5% | -23.8% |
| 2023 | +7.8% | -72.5% |
| 2024 | +17.3% | -26.2% |
| 2025 | +9.9% | -42.2% |
| 2026 | +2.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPCT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between NPCT and VXX?
The NPCT/VXX correlation stands at -0.42 on a 3-year window (1 year: -0.55, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NPCT?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 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/npct-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/npct-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NPCT correlations · VXX correlations
