MITT vs VXX: Correlation
Measured on weekly returns over the past three years, TPG Mortgage Investment Trust, Inc. (MITT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MITT and VXX?
On 3 years of weekly data the MITT/VXX correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.31) than the 3-year average (-0.48). The 5-year figure is -0.42, and annualized covariance runs at -838.7 %².
Out of 13 assets tracked against MITT, VXX lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months MITT outperformed by 50.0 percentage points (+0.3% for MITT against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.1 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.
MITT vs VXX: side by side
| MITT (TPG Mortgage Investment Trust, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.3% | -49.7% |
| 5-year return | +11.0% | -95.6% |
| Volatility (ann.) | 28.8% | 60.9% |
| Beta vs S&P 500 | 0.75 | -3.31 |
| Max drawdown (3Y) | -26.9% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 8.9 | – |
| Dividend yield | 13.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MITT | VXX |
|---|---|---|
| 2022 | -41.0% | -23.8% |
| 2023 | +35.8% | -72.5% |
| 2024 | +17.1% | -26.2% |
| 2025 | +42.8% | -42.2% |
| 2026 | -16.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MITT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between MITT and VXX?
The MITT/VXX correlation stands at -0.48 on a 3-year window (1 year: -0.31, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MITT?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
A reading of -0.48 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/mitt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mitt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MITT correlations · VXX correlations
