NTNX vs VXZ: Correlation
Nutanix, Inc. (NTNX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTNX and VXZ?
Across a 3-year window, the weekly returns of NTNX and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.36). Stretching to 5 years gives -0.35, with an annualized covariance of -425.5 %².
Among the 16 assets we track against NTNX, VXZ sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with NTNX ahead by 16.4 points (+0.3% versus -16.1%). Risk is not evenly split, since NTNX 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.
NTNX vs VXZ: side by side
| NTNX (Nutanix, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.3% | -16.1% |
| 5-year return | +90.4% | -53.1% |
| Volatility (ann.) | 45.6% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -58.6% | -36.4% |
| Market cap | $18.9B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTNX | VXZ |
|---|---|---|
| 2022 | -18.2% | +0.5% |
| 2023 | +83.1% | -44.0% |
| 2024 | +28.3% | -12.7% |
| 2025 | -15.5% | +5.7% |
| 2026 | +35.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTNX and VXZ good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NTNX and VXZ?
As of 2026-08-27, the correlation of weekly returns between NTNX and VXZ is -0.36 over 3 years, -0.16 over 1 year and -0.35 over 5 years.
Is VXZ a good diversifier for NTNX?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
A reading of -0.36 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/ntnx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntnx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NTNX correlations · VXZ correlations
