MGTX vs VXX: Correlation
How closely do MeiraGTx Holdings plc (MGTX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGTX and VXX?
Over the past 3 years, MGTX and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.53) than the 3-year average (-0.37). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -1754.7 %².
Out of 20 assets tracked against MGTX, VXX lands near the bottom at #20. Their recent paths diverged sharply: over the last 12 months MGTX outperformed by 139.8 percentage points (+90.1% for MGTX 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.
MGTX vs VXX: side by side
| MGTX (MeiraGTx Holdings plc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +90.1% | -49.7% |
| 5-year return | +2.2% | -95.6% |
| Volatility (ann.) | 77.0% | 60.9% |
| Beta vs S&P 500 | 2.02 | -3.31 |
| Max drawdown (3Y) | -47.1% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | 16.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGTX | VXX |
|---|---|---|
| 2022 | -72.5% | -23.8% |
| 2023 | +7.7% | -72.5% |
| 2024 | -13.2% | -26.2% |
| 2025 | +30.5% | -42.2% |
| 2026 | +77.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGTX and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGTX and VXX?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.53 over the last year and -0.36 over 5 years.
Is VXX a good diversifier for MGTX?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/mgtx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgtx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MGTX correlations · VXX correlations
