NWL vs VXX: Correlation
How closely do Newell Brands Inc. (NWL) 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 -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWL and VXX?
Across a 3-year window, the weekly returns of NWL and VXX correlate at -0.29, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.29 over 3. Stretching to 5 years gives -0.28, with an annualized covariance of -1093.9 %².
Out of 15 assets tracked against NWL, VXX lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months NWL outperformed by 55.3 percentage points (+5.6% for NWL 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.
NWL vs VXX: side by side
| NWL (Newell Brands Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.6% | -49.7% |
| 5-year return | -70.7% | -95.6% |
| Volatility (ann.) | 62.8% | 60.9% |
| Beta vs S&P 500 | 1.15 | -3.31 |
| Max drawdown (3Y) | -72.3% | -83.3% |
| Market cap | $2.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NWL | VXX |
|---|---|---|
| 2022 | -37.0% | -23.8% |
| 2023 | -30.9% | -72.5% |
| 2024 | +19.0% | -26.2% |
| 2025 | -60.5% | -42.2% |
| 2026 | +63.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between NWL and VXX?
The NWL/VXX correlation stands at -0.29 on a 3-year window (1 year: -0.27, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for NWL?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nwl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NWL correlations · VXX correlations
