NRP vs VXX: Correlation
Natural Resource Partners LP Limited Partnership (NRP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NRP and VXX?
On 3 years of weekly data the NRP/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.02) than the 3-year average (-0.29). The 5-year figure is -0.19, and annualized covariance runs at -507.7 %².
Among the 10 assets we track against NRP, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months NRP outperformed by 59.3 percentage points (+9.6% for NRP against -49.7% for VXX). One caveat on sizing: VXX 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.
NRP vs VXX: side by side
| NRP (Natural Resource Partners LP Limited Partnership) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.6% | -49.7% |
| 5-year return | +624.7% | -95.6% |
| Volatility (ann.) | 28.3% | 60.9% |
| Beta vs S&P 500 | 0.41 | -3.31 |
| Max drawdown (3Y) | -22.9% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 2.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NRP | VXX |
|---|---|---|
| 2022 | +72.9% | -23.8% |
| 2023 | +87.0% | -72.5% |
| 2024 | +27.4% | -26.2% |
| 2025 | -1.9% | -42.2% |
| 2026 | +7.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NRP and VXX good diversifiers for each other?
Yes. With a correlation of -0.29, NRP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NRP and VXX?
The NRP/VXX correlation stands at -0.29 on a 3-year window (1 year: 0.02, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NRP?
Yes. With a correlation of -0.29, NRP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 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/nrp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nrp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NRP correlations · VXX correlations
