MHO vs VXZ: Correlation
M/I Homes, Inc. (MHO) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHO and VXZ?
Over the past 3 years, MHO and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.40 over 3 years. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -386.2 %².
Among the 21 assets we track against MHO, VXZ sits near the bottom by co-movement, at rank #21. Correlation aside, the last 12 months split them widely, with MHO ahead by 19.5 points (+3.4% versus -16.1%).
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.
MHO vs VXZ: side by side
| MHO (M/I Homes, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.4% | -16.1% |
| 5-year return | +131.4% | -53.1% |
| Volatility (ann.) | 38.2% | 25.6% |
| Beta vs S&P 500 | 0.92 | -1.31 |
| Max drawdown (3Y) | -40.6% | -36.4% |
| Market cap | $3.8B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHO | VXZ |
|---|---|---|
| 2022 | -25.7% | +0.5% |
| 2023 | +198.3% | -44.0% |
| 2024 | -3.5% | -12.7% |
| 2025 | -3.8% | +5.7% |
| 2026 | +18.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.40, MHO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MHO and VXZ?
As of 2026-08-27, the correlation of weekly returns between MHO and VXZ is -0.40 over 3 years, -0.30 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for MHO?
Yes. With a correlation of -0.40, MHO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mho-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mho-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MHO correlations · VXZ correlations
