NTRB vs VXZ: Correlation
How closely do Nutriband Inc. (NTRB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTRB and VXZ?
Over the past 3 years, NTRB and VXZ moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -429.0 %².
Among the 11 assets we track against NTRB, VXZ sits near the bottom by co-movement, at rank #9. Over the last 12 months VXZ came out ahead by 11.8 percentage points (-27.9% against -16.1%). Note the risk asymmetry: NTRB runs 4.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NTRB vs VXZ: side by side
| NTRB (Nutriband Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.9% | -16.1% |
| 5-year return | -19.5% | -53.1% |
| Volatility (ann.) | 106.0% | 25.6% |
| Beta vs S&P 500 | 1.25 | -1.31 |
| Max drawdown (3Y) | -73.8% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTRB | VXZ |
|---|---|---|
| 2022 | -58.3% | +0.5% |
| 2023 | -35.6% | -44.0% |
| 2024 | +103.0% | -12.7% |
| 2025 | -3.6% | +5.7% |
| 2026 | +1.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTRB and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between NTRB and VXZ?
As of 2026-08-27, the correlation of weekly returns between NTRB and VXZ is -0.16 over 3 years, -0.21 over 1 year and -0.17 over 5 years.
Is VXZ a good diversifier for NTRB?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 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/ntrb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntrb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NTRB correlations · VXZ correlations
