MGNI vs VXX: Correlation
Measured on weekly returns over the past three years, Magnite, Inc. (MGNI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGNI and VXX?
On 3 years of weekly data the MGNI/VXX correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.40 over 3. The 5-year figure is -0.32, and annualized covariance runs at -1534.1 %².
Out of 19 assets tracked against MGNI, VXX lands near the bottom at #18. The last year tells two different stories: MGNI led by 41.1 percentage points, -8.6% for MGNI against -49.7% for VXX.
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.
MGNI vs VXX: side by side
| MGNI (Magnite, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.6% | -49.7% |
| 5-year return | -17.8% | -95.6% |
| Volatility (ann.) | 63.6% | 60.9% |
| Beta vs S&P 500 | 1.94 | -3.31 |
| Max drawdown (3Y) | -57.8% | -83.3% |
| Market cap | $3.4B | – |
| P/E (trailing) | 21.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGNI | VXX |
|---|---|---|
| 2022 | -39.5% | -23.8% |
| 2023 | -11.8% | -72.5% |
| 2024 | +70.4% | -26.2% |
| 2025 | +1.9% | -42.2% |
| 2026 | +43.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGNI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between MGNI and VXX?
The MGNI/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.34, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MGNI?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/mgni-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgni-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MGNI correlations · VXX correlations
