MA vs VXX: Correlation
Measured on weekly returns over the past three years, Mastercard (MA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MA and VXX?
Over the past 3 years, MA and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.31 versus -0.42 over 3 years. Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -490.7 %².
VXX is close to the least connected end of MA's tracked universe, ranking #44 of 46. Their recent paths diverged sharply: over the last 12 months MA outperformed by 50.5 percentage points (+0.8% for MA against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.2 times the volatility of the other side.
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.
MA vs VXX: side by side
| MA (Mastercard) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.8% | -49.7% |
| 5-year return | +72.6% | -95.6% |
| Volatility (ann.) | 19.3% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -20.9% | -83.3% |
| Market cap | $518.4B | – |
| P/E (trailing) | 32.9 | – |
| Dividend yield | 0.56% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | MA | VXX |
|---|---|---|
| 2022 | -2.7% | -23.8% |
| 2023 | +23.4% | -72.5% |
| 2024 | +24.2% | -26.2% |
| 2025 | +9.0% | -42.2% |
| 2026 | +4.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MA 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 MA and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.31 over the last year and -0.45 over 5 years.
Is VXX a good diversifier for MA?
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/ma-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ma-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MA correlations · VXX correlations
