MKSI vs VXZ: Correlation
MKS Inc. (MKSI) 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 -0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MKSI and VXZ?
Over the past 3 years, MKSI and VXZ moved with a correlation of -0.56, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.33) runs above the 3-year figure (-0.56). Over 5 years the correlation is -0.53, and the annualized covariance of weekly returns is -729.3 %².
Among the 41 assets we track against MKSI, VXZ sits near the bottom by co-movement, at rank #40. The last year tells two different stories: MKSI led by 173.6 percentage points, +157.5% for MKSI against -16.1% for VXZ. One caveat on sizing: MKSI is 2.0 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.
MKSI vs VXZ: side by side
| MKSI (MKS Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +157.5% | -16.1% |
| 5-year return | +88.2% | -53.1% |
| Volatility (ann.) | 50.8% | 25.6% |
| Beta vs S&P 500 | 2.39 | -1.31 |
| Max drawdown (3Y) | -59.1% | -36.4% |
| Market cap | $18.3B | – |
| P/E (trailing) | 43.3 | – |
| Dividend yield | 0.35% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MKSI | VXZ |
|---|---|---|
| 2022 | -51.0% | +0.5% |
| 2023 | +22.6% | -44.0% |
| 2024 | +2.2% | -12.7% |
| 2025 | +54.4% | +5.7% |
| 2026 | +70.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MKSI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.56, MKSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MKSI and VXZ?
As of 2026-08-27, the correlation of weekly returns between MKSI and VXZ is -0.56 over 3 years, -0.33 over 1 year and -0.53 over 5 years.
Is VXZ a good diversifier for MKSI?
Yes. With a correlation of -0.56, MKSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.56 mean?
A reading of -0.56 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/mksi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mksi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MKSI correlations · VXZ correlations
