NVCR vs VXX: Correlation
Measured on weekly returns over the past three years, NovoCure Limited (NVCR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVCR and VXX?
On 3 years of weekly data the NVCR/VXX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. The 5-year figure is -0.21, and annualized covariance runs at -940.1 %².
Out of 12 assets tracked against NVCR, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months NVCR outperformed by 100.7 percentage points (+51.0% for NVCR 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.
NVCR vs VXX: side by side
| NVCR (NovoCure Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +51.0% | -49.7% |
| 5-year return | -86.6% | -95.6% |
| Volatility (ann.) | 70.1% | 60.9% |
| Beta vs S&P 500 | 1.51 | -3.31 |
| Max drawdown (3Y) | -70.0% | -83.3% |
| Market cap | $2.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVCR | VXX |
|---|---|---|
| 2022 | -2.3% | -23.8% |
| 2023 | -79.6% | -72.5% |
| 2024 | +99.6% | -26.2% |
| 2025 | -56.6% | -42.2% |
| 2026 | +39.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVCR and VXX good diversifiers for each other?
Yes. With a correlation of -0.22, NVCR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NVCR and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.15 over the last year and -0.21 over 5 years.
Is VXX a good diversifier for NVCR?
Yes. With a correlation of -0.22, NVCR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/nvcr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvcr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVCR correlations · VXX correlations
