MHK vs VXZ: Correlation
Mohawk Industries, Inc. (MHK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHK and VXZ?
Over the past 3 years, MHK and VXZ moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -393.8 %².
Among the 27 assets we track against MHK, VXZ sits near the bottom by co-movement, at rank #27. On 12-month performance MHK holds a 14.3-point edge, -1.8% against -16.1%. One caveat on sizing: MHK is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MHK vs VXZ: side by side
| MHK (Mohawk Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.8% | -16.1% |
| 5-year return | -35.8% | -53.1% |
| Volatility (ann.) | 39.3% | 25.6% |
| Beta vs S&P 500 | 1.13 | -1.31 |
| Max drawdown (3Y) | -42.0% | -36.4% |
| Market cap | $8.8B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHK | VXZ |
|---|---|---|
| 2022 | -43.9% | +0.5% |
| 2023 | +1.3% | -44.0% |
| 2024 | +15.1% | -12.7% |
| 2025 | -8.3% | +5.7% |
| 2026 | +18.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.39, MHK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MHK and VXZ?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.43 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for MHK?
Yes. With a correlation of -0.39, MHK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
A reading of -0.39 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/mhk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mhk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MHK correlations · VXZ correlations
