NVRI vs VXX: Correlation
How closely do Enviri Corporation (NVRI) 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 NVRI and VXX?
On 3 years of weekly data the NVRI/VXX correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.31 over 3 years. The 5-year figure is -0.25, and annualized covariance runs at -950.0 %².
Among the 11 assets we track against NVRI, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: NVRI led by 147.7 percentage points, +98.0% for NVRI 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.
NVRI vs VXX: side by side
| NVRI (Enviri Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +98.0% | -49.7% |
| 5-year return | +22.4% | -95.6% |
| Volatility (ann.) | 49.8% | 60.9% |
| Beta vs S&P 500 | 1.20 | -3.31 |
| Max drawdown (3Y) | -60.7% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVRI | VXX |
|---|---|---|
| 2022 | -62.4% | -23.8% |
| 2023 | +43.1% | -72.5% |
| 2024 | -14.4% | -26.2% |
| 2025 | +132.7% | -42.2% |
| 2026 | +25.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVRI and VXX good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NVRI and VXX?
As of 2026-08-27, the correlation of weekly returns between NVRI and VXX is -0.31 over 3 years, -0.07 over 1 year and -0.25 over 5 years.
Is VXX a good diversifier for NVRI?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/nvri-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvri-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVRI correlations · VXX correlations
