NSLR vs VXZ: Correlation
Measured on weekly returns over the past three years, Neostellar Capital Corp. - Closed End Fund (NSLR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NSLR and VXZ?
On 3 years of weekly data the NSLR/VXZ correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.18) sits close to the 3-year figure. The 5-year figure is -0.33, and annualized covariance runs at -264.4 %².
VXZ is close to the least connected end of NSLR's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months NSLR outperformed by 37.4 percentage points (+21.3% for NSLR against -16.1% for VXZ). Risk is not evenly split, since NSLR carries 1.8 times the volatility of the other side.
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.
NSLR vs VXZ: side by side
| NSLR (Neostellar Capital Corp. - Closed End Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.3% | -16.1% |
| 5-year return | +4.6% | -53.1% |
| Volatility (ann.) | 45.0% | 25.6% |
| Beta vs S&P 500 | 0.97 | -1.31 |
| Max drawdown (3Y) | -35.6% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 2.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NSLR | VXZ |
|---|---|---|
| 2022 | -70.3% | +0.5% |
| 2023 | +3.7% | -44.0% |
| 2024 | +49.2% | -12.7% |
| 2025 | +69.9% | +5.7% |
| 2026 | +9.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NSLR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.23, NSLR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NSLR and VXZ?
The NSLR/VXZ correlation stands at -0.23 on a 3-year window (1 year: -0.18, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NSLR?
Yes. With a correlation of -0.23, NSLR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/nslr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nslr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NSLR correlations · VXZ correlations
