NVT vs VXX: Correlation
How closely do nVent Electric plc (NVT) 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 -0.56, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVT and VXX?
On 3 years of weekly data the NVT/VXX correlation comes out at -0.56, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.41) runs above the 3-year figure (-0.56). The 5-year figure is -0.53, and annualized covariance runs at -1255.0 %².
Out of 37 assets tracked against NVT, VXX lands near the bottom at #36. Their recent paths diverged sharply: over the last 12 months NVT outperformed by 121.6 percentage points (+71.9% for NVT against -49.7% for VXX). One caveat on sizing: VXX 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.
NVT vs VXX: side by side
| NVT (nVent Electric plc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +71.9% | -49.7% |
| 5-year return | +382.4% | -95.6% |
| Volatility (ann.) | 36.7% | 60.9% |
| Beta vs S&P 500 | 1.68 | -3.31 |
| Max drawdown (3Y) | -46.7% | -83.3% |
| Market cap | $25.2B | – |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.53% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVT | VXX |
|---|---|---|
| 2022 | +3.3% | -23.8% |
| 2023 | +56.0% | -72.5% |
| 2024 | +16.6% | -26.2% |
| 2025 | +51.3% | -42.2% |
| 2026 | +53.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVT and VXX good diversifiers for each other?
Yes. With a correlation of -0.56, NVT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NVT and VXX?
As of 2026-08-27, the correlation of weekly returns between NVT and VXX is -0.56 over 3 years, -0.41 over 1 year and -0.53 over 5 years.
Is VXX a good diversifier for NVT?
Yes. With a correlation of -0.56, NVT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.56 mean?
On the −1 to +1 scale, -0.56 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/nvt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NVT correlations · VXX correlations
