NRK vs VXX: Correlation
Measured on weekly returns over the past three years, Nuveen New York AMT-Free Quality Municipal Income Fund (NRK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRK and VXX?
Across a 3-year window, the weekly returns of NRK and VXX correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.36 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.29, with an annualized covariance of -193.6 %².
Out of 14 assets tracked against NRK, VXX lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months NRK outperformed by 67.1 percentage points (+17.4% for NRK against -49.7% for VXX). One caveat on sizing: VXX is 5.7 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.
NRK vs VXX: side by side
| NRK (Nuveen New York AMT-Free Quality Municipal Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.4% | -49.7% |
| 5-year return | -2.0% | -95.6% |
| Volatility (ann.) | 10.7% | 60.9% |
| Beta vs S&P 500 | 0.27 | -3.31 |
| Max drawdown (3Y) | -11.5% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 32.1 | – |
| Dividend yield | 8.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRK | VXX |
|---|---|---|
| 2022 | -21.8% | -23.8% |
| 2023 | +7.1% | -72.5% |
| 2024 | +5.9% | -26.2% |
| 2025 | +4.7% | -42.2% |
| 2026 | +7.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRK and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between NRK and VXX?
The NRK/VXX correlation stands at -0.30 on a 3-year window (1 year: -0.36, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NRK?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nrk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NRK correlations · VXX correlations
