MDU vs VXX: Correlation
Measured on weekly returns over the past three years, MDU Resources Group, Inc. (MDU) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDU and VXX?
On 3 years of weekly data the MDU/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.12) than the 3-year average (-0.27). The 5-year figure is -0.32, and annualized covariance runs at -419.3 %².
VXX is close to the least connected end of MDU's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months MDU outperformed by 76.0 percentage points (+26.3% for MDU against -49.7% for VXX). One caveat on sizing: VXX is 2.4 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.
MDU vs VXX: side by side
| MDU (MDU Resources Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.3% | -49.7% |
| 5-year return | +90.7% | -95.6% |
| Volatility (ann.) | 25.2% | 60.9% |
| Beta vs S&P 500 | 0.55 | -3.31 |
| Max drawdown (3Y) | -21.5% | -83.3% |
| Market cap | $4.2B | – |
| P/E (trailing) | 21.7 | – |
| Dividend yield | 2.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDU | VXX |
|---|---|---|
| 2022 | +1.5% | -23.8% |
| 2023 | -1.9% | -72.5% |
| 2024 | +68.0% | -26.2% |
| 2025 | +11.8% | -42.2% |
| 2026 | +4.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDU and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MDU and VXX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.12 over the last year and -0.32 over 5 years.
Is VXX a good diversifier for MDU?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/mdu-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdu-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MDU correlations · VXX correlations
