MATX vs VXZ: Correlation
Measured on weekly returns over the past three years, Matson, Inc. (MATX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATX and VXZ?
Across a 3-year window, the weekly returns of MATX and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.35 over 3. Stretching to 5 years gives -0.35, with an annualized covariance of -312.7 %².
VXZ is close to the least connected end of MATX's tracked universe, ranking #13 of 13. Correlation aside, the last 12 months split them widely, with MATX ahead by 128.9 points (+112.8% versus -16.1%).
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.
MATX vs VXZ: side by side
| MATX (Matson, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +112.8% | -16.1% |
| 5-year return | +195.6% | -53.1% |
| Volatility (ann.) | 34.6% | 25.6% |
| Beta vs S&P 500 | 0.80 | -1.31 |
| Max drawdown (3Y) | -46.9% | -36.4% |
| Market cap | $6.6B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 0.65% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MATX | VXZ |
|---|---|---|
| 2022 | -29.5% | +0.5% |
| 2023 | +78.2% | -44.0% |
| 2024 | +24.3% | -12.7% |
| 2025 | -7.2% | +5.7% |
| 2026 | +80.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between MATX and VXZ?
The MATX/VXZ correlation stands at -0.35 on a 3-year window (1 year: -0.31, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MATX?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/matx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/matx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MATX correlations · VXZ correlations
