NX vs VXX: Correlation
Quanex Building Products Corporation (NX) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NX and VXX?
Over the past 3 years, NX and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -808.4 %².
Among the 13 assets we track against NX, VXX sits near the bottom by co-movement, at rank #12. The last year tells two different stories: NX led by 41.3 percentage points, -8.4% for NX 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.
NX vs VXX: side by side
| NX (Quanex Building Products Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.4% | -49.7% |
| 5-year return | -10.0% | -95.6% |
| Volatility (ann.) | 49.4% | 60.9% |
| Beta vs S&P 500 | 1.11 | -3.31 |
| Max drawdown (3Y) | -70.4% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.61% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NX | VXX |
|---|---|---|
| 2022 | -3.1% | -23.8% |
| 2023 | +30.7% | -72.5% |
| 2024 | -19.9% | -26.2% |
| 2025 | -35.4% | -42.2% |
| 2026 | +29.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NX and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between NX and VXX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.32 over the last year and -0.33 over 5 years.
Is VXX a good diversifier for NX?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/nx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NX correlations · VXX correlations
