NVAX vs VXX: Correlation
How closely do Novavax, Inc. (NVAX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVAX and VXX?
On 3 years of weekly data the NVAX/VXX correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. The 5-year figure is -0.26, and annualized covariance runs at -1605.0 %².
Out of 16 assets tracked against NVAX, VXX lands near the bottom at #16. The last year tells two different stories: NVAX led by 69.1 percentage points, +19.4% for NVAX 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.
NVAX vs VXX: side by side
| NVAX (Novavax, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.4% | -49.7% |
| 5-year return | -96.1% | -95.6% |
| Volatility (ann.) | 86.3% | 60.9% |
| Beta vs S&P 500 | 1.77 | -3.31 |
| Max drawdown (3Y) | -74.1% | -83.3% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVAX | VXX |
|---|---|---|
| 2022 | -92.8% | -23.8% |
| 2023 | -53.3% | -72.5% |
| 2024 | +67.5% | -26.2% |
| 2025 | -16.4% | -42.2% |
| 2026 | +34.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVAX and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between NVAX and VXX?
As of 2026-08-27, the correlation of weekly returns between NVAX and VXX is -0.31 over 3 years, -0.36 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for NVAX?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/nvax-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvax-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
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Hubs: NVAX correlations · VXX correlations
