MEOH vs VXZ: Correlation
Methanex Corporation (MEOH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MEOH and VXZ?
Across a 3-year window, the weekly returns of MEOH and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.18 versus -0.24 over 3 years. Stretching to 5 years gives -0.27, with an annualized covariance of -252.3 %².
VXZ is close to the least connected end of MEOH's tracked universe, ranking #9 of 10. The last year tells two different stories: MEOH led by 83.2 percentage points, +67.1% for MEOH against -16.1% for VXZ. Risk is not evenly split, since MEOH carries 1.6 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.
MEOH vs VXZ: side by side
| MEOH (Methanex Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +67.1% | -16.1% |
| 5-year return | +74.8% | -53.1% |
| Volatility (ann.) | 40.4% | 25.6% |
| Beta vs S&P 500 | 0.54 | -1.31 |
| Max drawdown (3Y) | -52.2% | -36.4% |
| Market cap | $4.5B | – |
| P/E (trailing) | 66.3 | – |
| Dividend yield | 1.30% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MEOH | VXZ |
|---|---|---|
| 2022 | -2.8% | +0.5% |
| 2023 | +27.3% | -44.0% |
| 2024 | +7.3% | -12.7% |
| 2025 | -18.9% | +5.7% |
| 2026 | +47.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MEOH and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MEOH and VXZ?
As of 2026-08-27, the correlation of weekly returns between MEOH and VXZ is -0.24 over 3 years, 0.18 over 1 year and -0.27 over 5 years.
Is VXZ a good diversifier for MEOH?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/meoh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/meoh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MEOH correlations · VXZ correlations
