MCO vs VXX: Correlation
How closely do Moody's Corporation (MCO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.49, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCO and VXX?
On 3 years of weekly data the MCO/VXX correlation comes out at -0.49, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.22) than the 3-year average (-0.49). The 5-year figure is -0.45, and annualized covariance runs at -765.7 %².
Out of 53 assets tracked against MCO, VXX lands near the bottom at #51. Correlation aside, the last 12 months split them widely, with MCO ahead by 50.4 points (+0.7% versus -49.7%). Risk is not evenly split, since VXX carries 2.4 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.
MCO vs VXX: side by side
| MCO (Moody's Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.7% | -49.7% |
| 5-year return | +39.4% | -95.6% |
| Volatility (ann.) | 25.8% | 60.9% |
| Beta vs S&P 500 | 1.08 | -3.31 |
| Max drawdown (3Y) | -24.7% | -83.3% |
| Market cap | $88.2B | – |
| P/E (trailing) | 32.7 | – |
| Dividend yield | 0.77% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | MCO | VXX |
|---|---|---|
| 2022 | -28.0% | -23.8% |
| 2023 | +41.5% | -72.5% |
| 2024 | +22.2% | -26.2% |
| 2025 | +8.7% | -42.2% |
| 2026 | +0.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCO and VXX good diversifiers for each other?
Yes. With a correlation of -0.49, MCO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MCO and VXX?
Using weekly returns as of 2026-08-27: -0.49 over 3 years, with -0.22 over the last year and -0.45 over 5 years.
Is VXX a good diversifier for MCO?
Yes. With a correlation of -0.49, MCO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 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/mco-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mco-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MCO correlations · VXX correlations
