MCRI vs VXZ: Correlation
How closely do Monarch Casino & Resort, Inc. (MCRI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCRI and VXZ?
Over the past 3 years, MCRI and VXZ moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.29). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -203.2 %².
Among the 11 assets we track against MCRI, VXZ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months MCRI outperformed by 34.7 percentage points (+18.6% for MCRI against -16.1% for VXZ).
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.
MCRI vs VXZ: side by side
| MCRI (Monarch Casino & Resort, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.6% | -16.1% |
| 5-year return | +113.4% | -53.1% |
| Volatility (ann.) | 27.2% | 25.6% |
| Beta vs S&P 500 | 0.65 | -1.31 |
| Max drawdown (3Y) | -23.1% | -36.4% |
| Market cap | $2.2B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 0.97% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MCRI | VXZ |
|---|---|---|
| 2022 | +4.0% | +0.5% |
| 2023 | -2.6% | -44.0% |
| 2024 | +16.0% | -12.7% |
| 2025 | +22.9% | +5.7% |
| 2026 | +29.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCRI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between MCRI and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.11 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for MCRI?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mcri-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mcri-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MCRI correlations · VXZ correlations
