NPO vs VXZ: Correlation
Enpro Inc. (NPO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NPO and VXZ?
Over the past 3 years, NPO and VXZ moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.17 versus -0.41 over 3 years. Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -361.3 %².
Out of 25 assets tracked against NPO, VXZ lands near the bottom at #24. The last year tells two different stories: NPO led by 53.2 percentage points, +37.1% for NPO 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.
NPO vs VXZ: side by side
| NPO (Enpro Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.1% | -16.1% |
| 5-year return | +270.5% | -53.1% |
| Volatility (ann.) | 34.4% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -33.7% | -36.4% |
| Market cap | $6.5B | – |
| P/E (trailing) | 149.1 | – |
| Dividend yield | 0.41% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NPO | VXZ |
|---|---|---|
| 2022 | -0.2% | +0.5% |
| 2023 | +45.6% | -44.0% |
| 2024 | +10.9% | -12.7% |
| 2025 | +25.0% | +5.7% |
| 2026 | +44.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NPO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, NPO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NPO and VXZ?
The NPO/VXZ correlation stands at -0.41 on a 3-year window (1 year: -0.17, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NPO?
Yes. With a correlation of -0.41, NPO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/npo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NPO correlations · VXZ correlations
