NPO vs VXX: Correlation
How closely do Enpro Inc. (NPO) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPO and VXX?
On 3 years of weekly data the NPO/VXX correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.45 over 3 years. The 5-year figure is -0.43, and annualized covariance runs at -952.3 %².
Out of 25 assets tracked against NPO, VXX lands near the bottom at #25. The last year tells two different stories: NPO led by 86.8 percentage points, +37.1% for NPO against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.8 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.
NPO vs VXX: side by side
| NPO (Enpro Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.1% | -49.7% |
| 5-year return | +270.5% | -95.6% |
| Volatility (ann.) | 34.4% | 60.9% |
| Beta vs S&P 500 | 1.27 | -3.31 |
| Max drawdown (3Y) | -33.7% | -83.3% |
| Market cap | $6.5B | – |
| P/E (trailing) | 149.1 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPO | VXX |
|---|---|---|
| 2022 | -0.2% | -23.8% |
| 2023 | +45.6% | -72.5% |
| 2024 | +10.9% | -26.2% |
| 2025 | +25.0% | -42.2% |
| 2026 | +44.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPO and VXX good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NPO and VXX?
The NPO/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.20, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NPO?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 mean?
A reading of -0.45 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/npo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/npo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NPO correlations · VXX correlations
