NRDS vs VXZ: Correlation
NerdWallet, Inc. (NRDS) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRDS and VXZ?
Over the past 3 years, NRDS and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -542.6 %².
VXZ is close to the least connected end of NRDS's tracked universe, ranking #12 of 12. The trailing year gives NRDS the advantage: -7.4% versus -16.1%, a 8.7-point spread. One caveat on sizing: NRDS is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NRDS vs VXZ: side by side
| NRDS (NerdWallet, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.4% | -16.1% |
| 5-year return | -65.7% | -53.1% |
| Volatility (ann.) | 55.3% | 25.6% |
| Beta vs S&P 500 | 1.08 | -1.31 |
| Max drawdown (3Y) | -55.4% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 10.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRDS | VXZ |
|---|---|---|
| 2022 | -38.3% | +0.5% |
| 2023 | +53.3% | -44.0% |
| 2024 | -9.6% | -12.7% |
| 2025 | +1.9% | +5.7% |
| 2026 | -28.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRDS and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NRDS and VXZ?
The NRDS/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.34, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NRDS?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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/nrds-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrds-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRDS correlations · VXZ correlations
