NU vs VXX: Correlation
Measured on weekly returns over the past three years, Nu Holdings Ltd. Class A (NU) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NU and VXX?
Across a 3-year window, the weekly returns of NU and VXX correlate at -0.51, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.46 over 1 year against -0.51 over 3. Stretching to 5 years gives -0.38, with an annualized covariance of -1216.2 %².
VXX is close to the least connected end of NU's tracked universe, ranking #10 of 10. Correlation aside, the last 12 months split them widely, with NU ahead by 51.3 points (+1.6% versus -49.7%). Risk is not evenly split, since VXX carries 1.5 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.
NU vs VXX: side by side
| NU (Nu Holdings Ltd. Class A) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.6% | -49.7% |
| 5-year return | +44.0% | -95.6% |
| Volatility (ann.) | 39.4% | 60.9% |
| Beta vs S&P 500 | 1.26 | -3.31 |
| Max drawdown (3Y) | -39.6% | -83.3% |
| Market cap | $71.9B | – |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NU | VXX |
|---|---|---|
| 2022 | -56.6% | -23.8% |
| 2023 | +104.7% | -72.5% |
| 2024 | +24.4% | -26.2% |
| 2025 | +61.6% | -42.2% |
| 2026 | -11.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NU and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
FAQ
What is the correlation between NU and VXX?
The NU/VXX correlation stands at -0.51 on a 3-year window (1 year: -0.46, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NU?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
What does a correlation of -0.51 mean?
A reading of -0.51 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/nu-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nu-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NU correlations · VXX correlations
