MHH vs VXZ: Correlation
How closely do Mastech Digital, Inc (MHH) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHH and VXZ?
On 3 years of weekly data the MHH/VXZ correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.30 over 3 years. The 5-year figure is -0.30, and annualized covariance runs at -363.7 %².
Among the 10 assets we track against MHH, VXZ sits near the bottom by co-movement, at rank #10. The trailing year gives MHH the advantage: -3.0% versus -16.1%, a 13.1-point spread. Risk is not evenly split, since MHH carries 1.8 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.
MHH vs VXZ: side by side
| MHH (Mastech Digital, Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.0% | -16.1% |
| 5-year return | -56.7% | -53.1% |
| Volatility (ann.) | 46.7% | 25.6% |
| Beta vs S&P 500 | 0.80 | -1.31 |
| Max drawdown (3Y) | -65.6% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 43.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHH | VXZ |
|---|---|---|
| 2022 | -35.5% | +0.5% |
| 2023 | -23.4% | -44.0% |
| 2024 | +76.7% | -12.7% |
| 2025 | -53.2% | +5.7% |
| 2026 | +5.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHH and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, MHH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MHH and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with 0.05 over the last year and -0.30 over 5 years.
Is VXZ a good diversifier for MHH?
Yes. With a correlation of -0.30, MHH and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/mhh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mhh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MHH correlations · VXZ correlations
