MCB vs VXZ: Correlation
Metropolitan Bank Holding Corp. (MCB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCB and VXZ?
Across a 3-year window, the weekly returns of MCB and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.28) runs above the 3-year figure (-0.42). Stretching to 5 years gives -0.40, with an annualized covariance of -465.4 %².
Among the 10 assets we track against MCB, VXZ sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with MCB ahead by 33.6 points (+17.5% versus -16.1%). Risk is not evenly split, since MCB carries 1.7 times the volatility of the other side.
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.
MCB vs VXZ: side by side
| MCB (Metropolitan Bank Holding Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.5% | -16.1% |
| 5-year return | +20.3% | -53.1% |
| Volatility (ann.) | 43.5% | 25.6% |
| Beta vs S&P 500 | 0.94 | -1.31 |
| Max drawdown (3Y) | -42.3% | -36.4% |
| Market cap | $1.1B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.82% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCB | VXZ |
|---|---|---|
| 2022 | -44.9% | +0.5% |
| 2023 | -5.6% | -44.0% |
| 2024 | +5.5% | -12.7% |
| 2025 | +31.3% | +5.7% |
| 2026 | +21.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCB and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between MCB and VXZ?
The MCB/VXZ correlation stands at -0.42 on a 3-year window (1 year: -0.28, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MCB?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 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/mcb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mcb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MCB correlations · VXZ correlations
