MIRM vs VXZ: Correlation
Measured on weekly returns over the past three years, Mirum Pharmaceuticals, Inc. (MIRM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MIRM and VXZ?
Over the past 3 years, MIRM and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -347.5 %².
Out of 11 assets tracked against MIRM, VXZ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months MIRM outperformed by 49.7 percentage points (+33.6% for MIRM against -16.1% for VXZ). Note the risk asymmetry: MIRM runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MIRM vs VXZ: side by side
| MIRM (Mirum Pharmaceuticals, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.6% | -16.1% |
| 5-year return | +522.7% | -53.1% |
| Volatility (ann.) | 43.0% | 25.6% |
| Beta vs S&P 500 | 0.73 | -1.31 |
| Max drawdown (3Y) | -32.5% | -36.4% |
| Market cap | $6.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MIRM | VXZ |
|---|---|---|
| 2022 | +22.3% | +0.5% |
| 2023 | +51.4% | -44.0% |
| 2024 | +40.1% | -12.7% |
| 2025 | +91.0% | +5.7% |
| 2026 | +26.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MIRM and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, MIRM and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MIRM and VXZ?
As of 2026-08-27, the correlation of weekly returns between MIRM and VXZ is -0.32 over 3 years, -0.25 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for MIRM?
Yes. With a correlation of -0.32, MIRM and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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/mirm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mirm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MIRM correlations · VXZ correlations
