MAGN vs VXX: Correlation
Magnera Corporation (MAGN) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAGN and VXX?
Over the past 3 years, MAGN and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -1085.1 %².
VXX is close to the least connected end of MAGN's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months MAGN outperformed by 48.7 percentage points (-1.0% for MAGN 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.
MAGN vs VXX: side by side
| MAGN (Magnera Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.0% | -49.7% |
| 5-year return | -93.7% | -95.6% |
| Volatility (ann.) | 71.5% | 60.9% |
| Beta vs S&P 500 | 1.31 | -3.31 |
| Max drawdown (3Y) | -76.8% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAGN | VXX |
|---|---|---|
| 2022 | -83.3% | -23.8% |
| 2023 | -30.2% | -72.5% |
| 2024 | -28.0% | -26.2% |
| 2025 | -16.7% | -42.2% |
| 2026 | -18.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAGN and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between MAGN and VXX?
As of 2026-08-27, the correlation of weekly returns between MAGN and VXX is -0.25 over 3 years, -0.30 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for MAGN?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/magn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/magn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MAGN correlations · VXX correlations
