MITK vs VXZ: Correlation
Measured on weekly returns over the past three years, Mitek Systems, Inc. (MITK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITK and VXZ?
Over the past 3 years, MITK and VXZ moved with a correlation of -0.26, which is 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. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -344.3 %².
Out of 14 assets tracked against MITK, VXZ lands near the bottom at #14. The last year tells two different stories: MITK led by 102.8 percentage points, +86.7% for MITK against -16.1% for VXZ. Risk is not evenly split, since MITK carries 2.0 times the volatility of the other side.
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.
MITK vs VXZ: side by side
| MITK (Mitek Systems, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +86.7% | -16.1% |
| 5-year return | -15.0% | -53.1% |
| Volatility (ann.) | 51.1% | 25.6% |
| Beta vs S&P 500 | 1.14 | -1.31 |
| Max drawdown (3Y) | -52.1% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 40.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITK | VXZ |
|---|---|---|
| 2022 | -45.4% | +0.5% |
| 2023 | +34.6% | -44.0% |
| 2024 | -14.6% | -12.7% |
| 2025 | -5.2% | +5.7% |
| 2026 | +82.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between MITK and VXZ?
As of 2026-08-27, the correlation of weekly returns between MITK and VXZ is -0.26 over 3 years, -0.34 over 1 year and -0.32 over 5 years.
Is VXZ a good diversifier for MITK?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/mitk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mitk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MITK correlations · VXZ correlations
