MAMA vs VXZ: Correlation
How closely do Mama's Creations, Inc. (MAMA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAMA and VXZ?
Across a 3-year window, the weekly returns of MAMA and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.26). Stretching to 5 years gives -0.24, with an annualized covariance of -327.8 %².
Out of 11 assets tracked against MAMA, VXZ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with MAMA ahead by 103.5 points (+87.4% versus -16.1%). Note the risk asymmetry: MAMA runs 1.9 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.
MAMA vs VXZ: side by side
| MAMA (Mama's Creations, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +87.4% | -16.1% |
| 5-year return | +535.7% | -53.1% |
| Volatility (ann.) | 49.3% | 25.6% |
| Beta vs S&P 500 | 0.49 | -1.31 |
| Max drawdown (3Y) | -42.5% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 106.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAMA | VXZ |
|---|---|---|
| 2022 | -10.7% | +0.5% |
| 2023 | +173.5% | -44.0% |
| 2024 | +62.1% | -12.7% |
| 2025 | +69.5% | +5.7% |
| 2026 | +18.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAMA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, MAMA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MAMA and VXZ?
As of 2026-08-27, the correlation of weekly returns between MAMA and VXZ is -0.26 over 3 years, -0.15 over 1 year and -0.24 over 5 years.
Is VXZ a good diversifier for MAMA?
Yes. With a correlation of -0.26, MAMA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/mama-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mama-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MAMA correlations · VXZ correlations
