NVEC vs VXZ: Correlation
NVE Corporation (NVEC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVEC and VXZ?
Across a 3-year window, the weekly returns of NVEC and VXZ correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.35, with an annualized covariance of -366.7 %².
VXZ is close to the least connected end of NVEC's tracked universe, ranking #10 of 10. The last year tells two different stories: NVEC led by 89.8 percentage points, +73.7% for NVEC against -16.1% for VXZ. One caveat on sizing: NVEC is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
NVEC vs VXZ: side by side
| NVEC (NVE Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +73.7% | -16.1% |
| 5-year return | +103.2% | -53.1% |
| Volatility (ann.) | 44.5% | 25.6% |
| Beta vs S&P 500 | 1.14 | -1.31 |
| Max drawdown (3Y) | -37.7% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 28.8 | – |
| Dividend yield | 3.73% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVEC | VXZ |
|---|---|---|
| 2022 | +1.9% | +0.5% |
| 2023 | +27.7% | -44.0% |
| 2024 | +9.2% | -12.7% |
| 2025 | -22.7% | +5.7% |
| 2026 | +86.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVEC and VXZ good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NVEC and VXZ?
The NVEC/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.23, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for NVEC?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/nvec-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvec-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVEC correlations · VXZ correlations
