NTAP vs VXX: Correlation
How closely do NetApp (NTAP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTAP and VXX?
On 3 years of weekly data the NTAP/VXX correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.43 over 3 years. The 5-year figure is -0.39, and annualized covariance runs at -991.5 %².
Among the 32 assets we track against NTAP, VXX sits near the bottom by co-movement, at rank #31. Correlation aside, the last 12 months split them widely, with NTAP ahead by 122.7 points (+73.0% versus -49.7%). One caveat on sizing: VXX is 1.6 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.
NTAP vs VXX: side by side
| NTAP (NetApp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +73.0% | -49.7% |
| 5-year return | +141.7% | -95.6% |
| Volatility (ann.) | 37.6% | 60.9% |
| Beta vs S&P 500 | 1.38 | -3.31 |
| Max drawdown (3Y) | -42.6% | -83.3% |
| Market cap | $37.4B | – |
| P/E (trailing) | 30.5 | – |
| Dividend yield | 1.07% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NTAP | VXX |
|---|---|---|
| 2022 | -32.9% | -23.8% |
| 2023 | +51.1% | -72.5% |
| 2024 | +34.2% | -26.2% |
| 2025 | -5.9% | -42.2% |
| 2026 | +80.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTAP and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between NTAP and VXX?
As of 2026-08-27, the correlation of weekly returns between NTAP and VXX is -0.43 over 3 years, -0.25 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for NTAP?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
A reading of -0.43 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/ntap-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntap-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NTAP correlations · VXX correlations
