NVST vs VXX: Correlation
How closely do Envista Holdings Corporation (NVST) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVST and VXX?
Over the past 3 years, NVST and VXX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -656.8 %².
VXX is close to the least connected end of NVST's tracked universe, ranking #17 of 18. Their recent paths diverged sharply: over the last 12 months NVST outperformed by 78.9 percentage points (+29.2% for NVST against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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.
NVST vs VXX: side by side
| NVST (Envista Holdings Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.2% | -49.7% |
| 5-year return | -35.8% | -95.6% |
| Volatility (ann.) | 35.4% | 60.9% |
| Beta vs S&P 500 | 0.80 | -3.31 |
| Max drawdown (3Y) | -55.4% | -83.3% |
| Market cap | $4.4B | – |
| P/E (trailing) | 48.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVST | VXX |
|---|---|---|
| 2022 | -25.3% | -23.8% |
| 2023 | -28.5% | -72.5% |
| 2024 | -19.8% | -26.2% |
| 2025 | +12.5% | -42.2% |
| 2026 | +26.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVST and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between NVST and VXX?
As of 2026-08-27, the correlation of weekly returns between NVST and VXX is -0.30 over 3 years, -0.30 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for NVST?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/nvst-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvst-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVST correlations · VXX correlations
