MIDD vs VXX: Correlation
The Middleby Corporation (MIDD) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIDD and VXX?
Across a 3-year window, the weekly returns of MIDD and VXX correlate at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives -0.40, with an annualized covariance of -746.4 %².
Among the 13 assets we track against MIDD, VXX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months MIDD outperformed by 52.2 percentage points (+2.5% for MIDD against -49.7% for VXX). One caveat on sizing: VXX is 1.7 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.
MIDD vs VXX: side by side
| MIDD (The Middleby Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.5% | -49.7% |
| 5-year return | -24.2% | -95.6% |
| Volatility (ann.) | 36.0% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -35.4% | -83.3% |
| Market cap | $5.1B | – |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MIDD | VXX |
|---|---|---|
| 2022 | -31.9% | -23.8% |
| 2023 | +9.9% | -72.5% |
| 2024 | -8.0% | -26.2% |
| 2025 | +9.8% | -42.2% |
| 2026 | -5.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIDD and VXX good diversifiers for each other?
Yes. With a correlation of -0.34, MIDD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MIDD and VXX?
As of 2026-08-27, the correlation of weekly returns between MIDD and VXX is -0.34 over 3 years, -0.34 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for MIDD?
Yes. With a correlation of -0.34, MIDD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
A reading of -0.34 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/midd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/midd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MIDD correlations · VXX correlations
