NWSA vs VXX: Correlation
News Corp (Class A) (NWSA) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWSA and VXX?
Across a 3-year window, the weekly returns of NWSA and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.15 versus -0.42 over 3 years. Stretching to 5 years gives -0.41, with an annualized covariance of -593.6 %².
VXX is close to the least connected end of NWSA's tracked universe, ranking #42 of 42. Their recent paths diverged sharply: over the last 12 months NWSA outperformed by 55.7 percentage points (+6.0% for NWSA against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NWSA vs VXX: side by side
| NWSA (News Corp (Class A)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.0% | -49.7% |
| 5-year return | +45.9% | -95.6% |
| Volatility (ann.) | 23.4% | 60.9% |
| Beta vs S&P 500 | 0.76 | -3.31 |
| Max drawdown (3Y) | -27.8% | -83.3% |
| Market cap | $16.8B | – |
| P/E (trailing) | 30.0 | – |
| Dividend yield | 0.65% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | NWSA | VXX |
|---|---|---|
| 2022 | -17.6% | -23.8% |
| 2023 | +36.4% | -72.5% |
| 2024 | +13.0% | -26.2% |
| 2025 | -4.5% | -42.2% |
| 2026 | +19.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWSA and VXX good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NWSA and VXX?
As of 2026-08-27, the correlation of weekly returns between NWSA and VXX is -0.42 over 3 years, -0.15 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for NWSA?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
A reading of -0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/nwsa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nwsa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NWSA correlations · VXX correlations
