MC vs VXZ: Correlation
Measured on weekly returns over the past three years, Moelis & Company (MC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.60, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MC and VXZ?
Over the past 3 years, MC and VXZ moved with a correlation of -0.60, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.52 over 1 year against -0.60 over 3. Over 5 years the correlation is -0.57, and the annualized covariance of weekly returns is -539.1 %².
VXZ is close to the least connected end of MC's tracked universe, ranking #14 of 14. Over the last 12 months MC came out ahead by 14.6 percentage points (-1.5% against -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.
MC vs VXZ: side by side
| MC (Moelis & Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.5% | -16.1% |
| 5-year return | +42.5% | -53.1% |
| Volatility (ann.) | 35.1% | 25.6% |
| Beta vs S&P 500 | 1.41 | -1.31 |
| Max drawdown (3Y) | -39.3% | -36.4% |
| Market cap | $5.1B | – |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 3.87% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MC | VXZ |
|---|---|---|
| 2022 | -35.2% | +0.5% |
| 2023 | +54.9% | -44.0% |
| 2024 | +37.1% | -12.7% |
| 2025 | -3.1% | +5.7% |
| 2026 | +2.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MC and VXZ good diversifiers for each other?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MC and VXZ?
The MC/VXZ correlation stands at -0.60 on a 3-year window (1 year: -0.52, 5 years: -0.57), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MC?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.60 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/mc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MC correlations · VXZ correlations
