MIR vs VXZ: Correlation
Mirion Technologies, Inc. (MIR) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIR and VXZ?
On 3 years of weekly data the MIR/VXZ correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.26) than the 3-year average (-0.41). The 5-year figure is -0.40, and annualized covariance runs at -435.3 %².
VXZ is close to the least connected end of MIR's tracked universe, ranking #9 of 11. The trailing year gives VXZ the advantage: -27.3% versus -16.1%, a 11.2-point spread. One caveat on sizing: MIR is 1.6 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.
MIR vs VXZ: side by side
| MIR (Mirion Technologies, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.3% | -16.1% |
| 5-year return | +49.5% | -53.1% |
| Volatility (ann.) | 41.2% | 25.6% |
| Beta vs S&P 500 | 1.53 | -1.31 |
| Max drawdown (3Y) | -51.0% | -36.4% |
| Market cap | $3.7B | – |
| P/E (trailing) | 165.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MIR | VXZ |
|---|---|---|
| 2022 | -36.9% | +0.5% |
| 2023 | +55.1% | -44.0% |
| 2024 | +70.2% | -12.7% |
| 2025 | +34.2% | +5.7% |
| 2026 | -36.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.41, MIR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MIR and VXZ?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.26 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for MIR?
Yes. With a correlation of -0.41, MIR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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/mir-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mir-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MIR correlations · VXZ correlations
