MATV vs VXX: Correlation
How closely do Mativ Holdings, Inc. (MATV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATV and VXX?
On 3 years of weekly data the MATV/VXX correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.31, and annualized covariance runs at -1377.2 %².
VXX is close to the least connected end of MATV's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with MATV ahead by 52.4 points (+2.7% versus -49.7%).
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.
MATV vs VXX: side by side
| MATV (Mativ Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.7% | -49.7% |
| 5-year return | -59.1% | -95.6% |
| Volatility (ann.) | 70.0% | 60.9% |
| Beta vs S&P 500 | 1.74 | -3.31 |
| Max drawdown (3Y) | -75.3% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 7.5 | – |
| Dividend yield | 3.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MATV | VXX |
|---|---|---|
| 2022 | -25.3% | -23.8% |
| 2023 | -22.7% | -72.5% |
| 2024 | -27.1% | -26.2% |
| 2025 | +17.3% | -42.2% |
| 2026 | +2.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATV and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between MATV and VXX?
As of 2026-08-27, the correlation of weekly returns between MATV and VXX is -0.32 over 3 years, -0.26 over 1 year and -0.31 over 5 years.
Is VXX a good diversifier for MATV?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/matv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/matv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MATV correlations · VXX correlations
