MDXG vs VXZ: Correlation
How closely do MiMedx Group, Inc (MDXG) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDXG and VXZ?
Across a 3-year window, the weekly returns of MDXG and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Stretching to 5 years gives -0.29, with an annualized covariance of -401.7 %².
Out of 10 assets tracked against MDXG, VXZ lands near the bottom at #9. The last year tells two different stories: VXZ led by 21.0 percentage points, -37.1% for MDXG against -16.1% for VXZ. Risk is not evenly split, since MDXG carries 1.7 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.
MDXG vs VXZ: side by side
| MDXG (MiMedx Group, Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.1% | -16.1% |
| 5-year return | -69.1% | -53.1% |
| Volatility (ann.) | 43.2% | 25.6% |
| Beta vs S&P 500 | 0.71 | -1.31 |
| Max drawdown (3Y) | -68.3% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 112.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDXG | VXZ |
|---|---|---|
| 2022 | -54.0% | +0.5% |
| 2023 | +215.5% | -44.0% |
| 2024 | +9.7% | -12.7% |
| 2025 | -29.6% | +5.7% |
| 2026 | -33.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDXG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between MDXG and VXZ?
As of 2026-08-27, the correlation of weekly returns between MDXG and VXZ is -0.36 over 3 years, -0.32 over 1 year and -0.29 over 5 years.
Is VXZ a good diversifier for MDXG?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdxg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDXG correlations · VXZ correlations
