NTZ vs VXX: Correlation
Natuzzi, S.p.A. (NTZ) 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 -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTZ and VXX?
Across a 3-year window, the weekly returns of NTZ and VXX correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.20). Stretching to 5 years gives -0.20, with an annualized covariance of -632.2 %².
Out of 10 assets tracked against NTZ, VXX lands near the bottom at #9. The last year tells two different stories: VXX led by 17.0 percentage points, -66.7% for NTZ against -49.7% for VXX.
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.
NTZ vs VXX: side by side
| NTZ (Natuzzi, S.p.A.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -66.7% | -49.7% |
| 5-year return | -93.4% | -95.6% |
| Volatility (ann.) | 52.2% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -86.3% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTZ | VXX |
|---|---|---|
| 2022 | -51.7% | -23.8% |
| 2023 | -12.0% | -72.5% |
| 2024 | -29.1% | -26.2% |
| 2025 | -50.8% | -42.2% |
| 2026 | -57.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTZ and VXX good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NTZ and VXX?
As of 2026-08-27, the correlation of weekly returns between NTZ and VXX is -0.20 over 3 years, -0.07 over 1 year and -0.20 over 5 years.
Is VXX a good diversifier for NTZ?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/ntz-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntz-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NTZ correlations · VXX correlations
