MGA vs VXX: Correlation
Magna International, Inc. (MGA) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGA and VXX?
Over the past 3 years, MGA and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.38). Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -728.7 %².
VXX is close to the least connected end of MGA's tracked universe, ranking #18 of 18. The last year tells two different stories: MGA led by 94.9 percentage points, +45.2% for MGA against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MGA vs VXX: side by side
| MGA (Magna International, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +45.2% | -49.7% |
| 5-year return | -1.8% | -95.6% |
| Volatility (ann.) | 31.5% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -45.6% | -83.3% |
| Market cap | $17.6B | – |
| P/E (trailing) | 24.2 | – |
| Dividend yield | 2.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGA | VXX |
|---|---|---|
| 2022 | -28.6% | -23.8% |
| 2023 | +8.8% | -72.5% |
| 2024 | -26.3% | -26.2% |
| 2025 | +32.4% | -42.2% |
| 2026 | +26.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGA and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between MGA and VXX?
The MGA/VXX correlation stands at -0.38 on a 3-year window (1 year: -0.13, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MGA?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/mga-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mga-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MGA correlations · VXX correlations
