NWS vs VXX: Correlation
Measured on weekly returns over the past three years, News Corp (Class B) (NWS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWS and VXX?
Across a 3-year window, the weekly returns of NWS and VXX correlate at -0.38, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.38). Stretching to 5 years gives -0.39, with an annualized covariance of -573.7 %².
VXX is close to the least connected end of NWS's tracked universe, ranking #35 of 37. Correlation aside, the last 12 months split them widely, with NWS ahead by 54.0 points (+4.3% versus -49.7%). One caveat on sizing: VXX is 2.5 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.
NWS vs VXX: side by side
| NWS (News Corp (Class B)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.3% | -49.7% |
| 5-year return | +67.8% | -95.6% |
| Volatility (ann.) | 24.5% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -26.8% | -83.3% |
| Market cap | $19.0B | – |
| P/E (trailing) | 34.3 | – |
| Dividend yield | 0.57% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | NWS | VXX |
|---|---|---|
| 2022 | -17.2% | -23.8% |
| 2023 | +41.0% | -72.5% |
| 2024 | +19.2% | -26.2% |
| 2025 | -2.0% | -42.2% |
| 2026 | +19.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between NWS and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.10 over the last year and -0.39 over 5 years.
Is VXX a good diversifier for NWS?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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/nws-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nws-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NWS correlations · VXX correlations
