NVR vs VXZ: Correlation
Measured on weekly returns over the past three years, NVR, Inc. (NVR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVR and VXZ?
On 3 years of weekly data the NVR/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.33). The 5-year figure is -0.36, and annualized covariance runs at -194.5 %².
VXZ is close to the least connected end of NVR's tracked universe, ranking #37 of 38. Twelve-month performance is nearly a tie, at -20.8% for NVR and -16.1% for VXZ.
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.
NVR vs VXZ: side by side
| NVR (NVR, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.8% | -16.1% |
| 5-year return | +24.2% | -53.1% |
| Volatility (ann.) | 23.4% | 25.6% |
| Beta vs S&P 500 | 0.53 | -1.31 |
| Max drawdown (3Y) | -43.9% | -36.4% |
| Market cap | $17.0B | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | NVR | VXZ |
|---|---|---|
| 2022 | -21.9% | +0.5% |
| 2023 | +51.8% | -44.0% |
| 2024 | +16.8% | -12.7% |
| 2025 | -10.8% | +5.7% |
| 2026 | -12.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.33, NVR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NVR and VXZ?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.46 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for NVR?
Yes. With a correlation of -0.33, NVR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nvr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVR correlations · VXZ correlations
