MDXG vs VXX: Correlation
MiMedx Group, Inc (MDXG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDXG and VXX?
Across a 3-year window, the weekly returns of MDXG and VXX correlate at -0.37, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Stretching to 5 years gives -0.26, with an annualized covariance of -979.9 %².
Among the 10 assets we track against MDXG, VXX sits near the bottom by co-movement, at rank #10. Over the last 12 months MDXG came out ahead by 12.6 percentage points (-37.1% against -49.7%).
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.
MDXG vs VXX: side by side
| MDXG (MiMedx Group, Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.1% | -49.7% |
| 5-year return | -69.1% | -95.6% |
| Volatility (ann.) | 43.2% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -68.3% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 112.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDXG | VXX |
|---|---|---|
| 2022 | -54.0% | -23.8% |
| 2023 | +215.5% | -72.5% |
| 2024 | +9.7% | -26.2% |
| 2025 | -29.6% | -42.2% |
| 2026 | -33.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDXG and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MDXG and VXX?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.33 over the last year and -0.26 over 5 years.
Is VXX a good diversifier for MDXG?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/mdxg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdxg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MDXG correlations · VXX correlations
