MBIN vs VXX: Correlation
Merchants Bancorp (MBIN) 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 -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MBIN and VXX?
On 3 years of weekly data the MBIN/VXX correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.43). The 5-year figure is -0.41, and annualized covariance runs at -1048.8 %².
VXX is close to the least connected end of MBIN's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months MBIN outperformed by 113.0 percentage points (+63.3% for MBIN against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.5 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.
MBIN vs VXX: side by side
| MBIN (Merchants Bancorp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +63.3% | -49.7% |
| 5-year return | +132.1% | -95.6% |
| Volatility (ann.) | 39.8% | 60.9% |
| Beta vs S&P 500 | 0.90 | -3.31 |
| Max drawdown (3Y) | -43.9% | -83.3% |
| Market cap | $2.4B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 0.79% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MBIN | VXX |
|---|---|---|
| 2022 | -22.1% | -23.8% |
| 2023 | +77.0% | -72.5% |
| 2024 | -13.6% | -26.2% |
| 2025 | -5.5% | -42.2% |
| 2026 | +57.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MBIN and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between MBIN and VXX?
As of 2026-08-27, the correlation of weekly returns between MBIN and VXX is -0.43 over 3 years, -0.13 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for MBIN?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 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/mbin-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mbin-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MBIN correlations · VXX correlations
