MGYR vs VXZ: Correlation
How closely do Magyar Bancorp, Inc. (MGYR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MGYR and VXZ?
On 3 years of weekly data the MGYR/VXZ correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.23 over 3 years. The 5-year figure is -0.21, and annualized covariance runs at -105.5 %².
VXZ is close to the least connected end of MGYR's tracked universe, ranking #14 of 15. Their recent paths diverged sharply: over the last 12 months MGYR outperformed by 32.6 percentage points (+16.5% for MGYR against -16.1% for VXZ).
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.
MGYR vs VXZ: side by side
| MGYR (Magyar Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.5% | -16.1% |
| 5-year return | +102.3% | -53.1% |
| Volatility (ann.) | 18.1% | 25.6% |
| Beta vs S&P 500 | 0.26 | -1.31 |
| Max drawdown (3Y) | -18.2% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 1.63% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MGYR | VXZ |
|---|---|---|
| 2022 | +6.1% | +0.5% |
| 2023 | -10.7% | -44.0% |
| 2024 | +32.6% | -12.7% |
| 2025 | +20.5% | +5.7% |
| 2026 | +14.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MGYR and VXZ good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MGYR and VXZ?
As of 2026-08-27, the correlation of weekly returns between MGYR and VXZ is -0.23 over 3 years, -0.03 over 1 year and -0.21 over 5 years.
Is VXZ a good diversifier for MGYR?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/mgyr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mgyr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MGYR correlations · VXZ correlations
