NPK vs VXZ: Correlation
How closely do National Presto Industries, Inc. (NPK) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPK and VXZ?
Across a 3-year window, the weekly returns of NPK and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.31). Stretching to 5 years gives -0.32, with an annualized covariance of -226.3 %².
Among the 10 assets we track against NPK, VXZ sits near the bottom by co-movement, at rank #10. The last year tells two different stories: NPK led by 60.3 percentage points, +44.2% for NPK against -16.1% for VXZ.
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.
NPK vs VXZ: side by side
| NPK (National Presto Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +44.2% | -16.1% |
| 5-year return | +115.3% | -53.1% |
| Volatility (ann.) | 28.9% | 25.6% |
| Beta vs S&P 500 | 0.70 | -1.31 |
| Max drawdown (3Y) | -23.3% | -36.4% |
| Market cap | $1.1B | – |
| P/E (trailing) | 25.2 | – |
| Dividend yield | 0.66% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPK | VXZ |
|---|---|---|
| 2022 | -11.8% | +0.5% |
| 2023 | +23.8% | -44.0% |
| 2024 | +29.9% | -12.7% |
| 2025 | +9.6% | +5.7% |
| 2026 | +44.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPK and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NPK and VXZ?
As of 2026-08-27, the correlation of weekly returns between NPK and VXZ is -0.31 over 3 years, -0.14 over 1 year and -0.32 over 5 years.
Is VXZ a good diversifier for NPK?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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/npk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/npk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NPK correlations · VXZ correlations
