MFI vs VXX: Correlation
Measured on weekly returns over the past three years, mF International Limited - Class A (MFI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MFI and VXX?
Across a 3-year window, the weekly returns of MFI and VXX correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.21). Stretching to 5 years gives n/a, with an annualized covariance of -2400.7 %².
Out of 16 assets tracked against MFI, VXX lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with VXX ahead by 25.6 points (-75.3% versus -49.7%). Risk is not evenly split, since MFI carries 3.0 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.
MFI vs VXX: side by side
| MFI (mF International Limited - Class A) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -75.3% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 180.8% | 60.9% |
| Beta vs S&P 500 | 2.81 | -3.31 |
| Max drawdown (3Y) | -95.8% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MFI | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | – | -26.2% |
| 2025 | +245.6% | -42.2% |
| 2026 | -50.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MFI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between MFI and VXX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.36 over the last year and n/a over 5 years.
Is VXX a good diversifier for MFI?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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/mfi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mfi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MFI correlations · VXX correlations
