MIDD vs VXZ: Correlation
The Middleby Corporation (MIDD) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIDD and VXZ?
Over the past 3 years, MIDD and VXZ moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.36 lands near the 3-year figure. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -321.8 %².
Among the 13 assets we track against MIDD, VXZ sits near the bottom by co-movement, at rank #13. The last year tells two different stories: MIDD led by 18.6 percentage points, +2.5% for MIDD 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.
MIDD vs VXZ: side by side
| MIDD (The Middleby Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.5% | -16.1% |
| 5-year return | -24.2% | -53.1% |
| Volatility (ann.) | 36.0% | 25.6% |
| Beta vs S&P 500 | 1.04 | -1.31 |
| Max drawdown (3Y) | -35.4% | -36.4% |
| Market cap | $5.1B | – |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MIDD | VXZ |
|---|---|---|
| 2022 | -31.9% | +0.5% |
| 2023 | +9.9% | -44.0% |
| 2024 | -8.0% | -12.7% |
| 2025 | +9.8% | +5.7% |
| 2026 | -5.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIDD and VXZ good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MIDD and VXZ?
The MIDD/VXZ correlation stands at -0.35 on a 3-year window (1 year: -0.36, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MIDD?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 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/midd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/midd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MIDD correlations · VXZ correlations
