NUE vs VXX: Correlation
Nucor (NUE) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NUE and VXX?
Over the past 3 years, NUE and VXX moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.23 versus -0.40 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -808.2 %².
Out of 34 assets tracked against NUE, VXX lands near the bottom at #34. Correlation aside, the last 12 months split them widely, with NUE ahead by 119.8 points (+70.1% versus -49.7%). Risk is not evenly split, since VXX 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.
NUE vs VXX: side by side
| NUE (Nucor) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +70.1% | -49.7% |
| 5-year return | +124.6% | -95.6% |
| Volatility (ann.) | 33.3% | 60.9% |
| Beta vs S&P 500 | 1.08 | -3.31 |
| Max drawdown (3Y) | -47.8% | -83.3% |
| Market cap | $57.3B | – |
| P/E (trailing) | 20.1 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | NUE | VXX |
|---|---|---|
| 2022 | +17.4% | -23.8% |
| 2023 | +33.8% | -72.5% |
| 2024 | -32.0% | -26.2% |
| 2025 | +42.0% | -42.2% |
| 2026 | +55.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NUE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between NUE and VXX?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.23 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for NUE?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
A reading of -0.40 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/nue-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nue-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NUE correlations · VXX correlations
