NRG vs VXZ: Correlation
How closely do NRG Energy (NRG) 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 -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRG and VXZ?
Across a 3-year window, the weekly returns of NRG and VXZ correlate at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.27) than the 3-year average (-0.41). Stretching to 5 years gives -0.37, with an annualized covariance of -463.6 %².
Out of 31 assets tracked against NRG, VXZ lands near the bottom at #31. On 12-month performance VXZ holds a 5.7-point edge, -21.8% against -16.1%. One caveat on sizing: NRG is 1.7 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.
NRG vs VXZ: side by side
| NRG (NRG Energy) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.8% | -16.1% |
| 5-year return | +191.5% | -53.1% |
| Volatility (ann.) | 44.4% | 25.6% |
| Beta vs S&P 500 | 1.30 | -1.31 |
| Max drawdown (3Y) | -38.9% | -36.4% |
| Market cap | $24.1B | – |
| P/E (trailing) | 30.2 | – |
| Dividend yield | 1.61% | – |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | NRG | VXZ |
|---|---|---|
| 2022 | -23.5% | +0.5% |
| 2023 | +69.4% | -44.0% |
| 2024 | +78.6% | -12.7% |
| 2025 | +78.9% | +5.7% |
| 2026 | -27.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between NRG and VXZ?
The NRG/VXZ correlation stands at -0.41 on a 3-year window (1 year: -0.27, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NRG?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 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/nrg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRG correlations · VXZ correlations
