MCHP vs VXZ: Correlation
Measured on weekly returns over the past three years, Microchip Technology (MCHP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCHP and VXZ?
On 3 years of weekly data the MCHP/VXZ correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.42 lands near the 3-year figure. The 5-year figure is -0.49, and annualized covariance runs at -599.8 %².
VXZ is close to the least connected end of MCHP's tracked universe, ranking #43 of 44. Correlation aside, the last 12 months split them widely, with MCHP ahead by 32.3 points (+16.2% versus -16.1%). One caveat on sizing: MCHP is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MCHP vs VXZ: side by side
| MCHP (Microchip Technology) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.2% | -16.1% |
| 5-year return | +5.9% | -53.1% |
| Volatility (ann.) | 46.7% | 25.6% |
| Beta vs S&P 500 | 1.97 | -1.31 |
| Max drawdown (3Y) | -63.8% | -36.4% |
| Market cap | $41.0B | – |
| P/E (trailing) | 109.4 | – |
| Dividend yield | 2.46% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | MCHP | VXZ |
|---|---|---|
| 2022 | -18.0% | +0.5% |
| 2023 | +30.9% | -44.0% |
| 2024 | -35.0% | -12.7% |
| 2025 | +14.6% | +5.7% |
| 2026 | +20.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCHP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.50, MCHP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MCHP and VXZ?
The MCHP/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.42, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MCHP?
Yes. With a correlation of -0.50, MCHP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
On the −1 to +1 scale, -0.50 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/mchp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mchp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MCHP correlations · VXZ correlations
