MFG vs VXX: Correlation
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG) 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 -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFG and VXX?
On 3 years of weekly data the MFG/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.48 over 1 year against -0.46 over 3. The 5-year figure is -0.42, and annualized covariance runs at -960.8 %².
Out of 10 assets tracked against MFG, VXX lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with MFG ahead by 108.8 points (+59.1% versus -49.7%). Risk is not evenly split, since VXX carries 1.8 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.
MFG vs VXX: side by side
| MFG (Mizuho Financial Group, Inc. Sponosred ADR (Japan)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +59.1% | -49.7% |
| 5-year return | +297.9% | -95.6% |
| Volatility (ann.) | 33.9% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -28.3% | -83.3% |
| Market cap | $126.8B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 1387.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MFG | VXX |
|---|---|---|
| 2022 | +11.4% | -23.8% |
| 2023 | +21.1% | -72.5% |
| 2024 | +47.9% | -26.2% |
| 2025 | +52.5% | -42.2% |
| 2026 | +42.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFG and VXX good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MFG and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.48 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for MFG?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mfg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mfg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MFG correlations · VXX correlations
