You may be thinking, what do UNG and VXX have to do with each other...
Some people buy VXX thinking that it will offer them protection in case of a market drop. However, please compare VXX and the actual volatility index VIX:
We also know how dreadful UNG is. Now, let's take a look at UNG vs VXX:
Look similar? You bet.
In fact, both ETFs have a very high correlation. Since June it is 0.85! From our online correlation tool:
Which one is worse? It's hard to tell.
Why anyone would like to hold these for the long term is astonishing.