NWFL vs VXX: Correlation
Norwood Financial Corp. (NWFL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWFL and VXX?
Over the past 3 years, NWFL and VXX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.34). Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -646.2 %².
Among the 13 assets we track against NWFL, VXX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months NWFL outperformed by 84.0 percentage points (+34.3% for NWFL against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.9 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.
NWFL vs VXX: side by side
| NWFL (Norwood Financial Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.3% | -49.7% |
| 5-year return | +65.8% | -95.6% |
| Volatility (ann.) | 31.4% | 60.9% |
| Beta vs S&P 500 | 0.64 | -3.31 |
| Max drawdown (3Y) | -33.6% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 3.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWFL | VXX |
|---|---|---|
| 2022 | +34.1% | -23.8% |
| 2023 | +2.4% | -72.5% |
| 2024 | -13.6% | -26.2% |
| 2025 | +8.4% | -42.2% |
| 2026 | +25.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWFL and VXX good diversifiers for each other?
Yes. With a correlation of -0.34, NWFL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NWFL and VXX?
The NWFL/VXX correlation stands at -0.34 on a 3-year window (1 year: -0.16, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NWFL?
Yes. With a correlation of -0.34, NWFL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/nwfl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwfl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NWFL correlations · VXX correlations
