NVT vs VXZ: Correlation
Measured on weekly returns over the past three years, nVent Electric plc (NVT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.53, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NVT and VXZ?
Across a 3-year window, the weekly returns of NVT and VXZ correlate at -0.53, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.19) runs above the 3-year figure (-0.53). Stretching to 5 years gives -0.53, with an annualized covariance of -496.5 %².
Out of 37 assets tracked against NVT, VXZ lands near the bottom at #35. Correlation aside, the last 12 months split them widely, with NVT ahead by 88.0 points (+71.9% versus -16.1%).
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 VXZ: side by side
| NVT (nVent Electric plc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +71.9% | -16.1% |
| 5-year return | +382.4% | -53.1% |
| Volatility (ann.) | 36.7% | 25.6% |
| Beta vs S&P 500 | 1.68 | -1.31 |
| Max drawdown (3Y) | -46.7% | -36.4% |
| Market cap | $25.2B | – |
| P/E (trailing) | 43.2 | – |
| Dividend yield | 0.53% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NVT | VXZ |
|---|---|---|
| 2022 | +3.3% | +0.5% |
| 2023 | +56.0% | -44.0% |
| 2024 | +16.6% | -12.7% |
| 2025 | +51.3% | +5.7% |
| 2026 | +53.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NVT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.53, NVT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NVT and VXZ?
Using weekly returns as of 2026-08-27: -0.53 over 3 years, with -0.19 over the last year and -0.53 over 5 years.
Is VXZ a good diversifier for NVT?
Yes. With a correlation of -0.53, NVT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.53 mean?
On the −1 to +1 scale, -0.53 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nvt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NVT correlations · VXZ correlations
