NRIM vs VXZ: Correlation
Measured on weekly returns over the past three years, Northrim BanCorp Inc (NRIM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRIM and VXZ?
Over the past 3 years, NRIM and VXZ moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.32) runs above the 3-year figure (-0.44). Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -413.6 %².
Among the 12 assets we track against NRIM, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: NRIM led by 27.6 percentage points, +11.5% for NRIM 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.
NRIM vs VXZ: side by side
| NRIM (Northrim BanCorp Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.5% | -16.1% |
| 5-year return | +203.9% | -53.1% |
| Volatility (ann.) | 36.9% | 25.6% |
| Beta vs S&P 500 | 0.89 | -1.31 |
| Max drawdown (3Y) | -24.9% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 1.25% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRIM | VXZ |
|---|---|---|
| 2022 | +30.7% | +0.5% |
| 2023 | +10.4% | -44.0% |
| 2024 | +41.9% | -12.7% |
| 2025 | +40.5% | +5.7% |
| 2026 | -1.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRIM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between NRIM and VXZ?
The NRIM/VXZ correlation stands at -0.44 on a 3-year window (1 year: -0.32, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NRIM?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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/nrim-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrim-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NRIM correlations · VXZ correlations
