MLAB vs VXX: Correlation
Mesa Laboratories, Inc. (MLAB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLAB and VXX?
On 3 years of weekly data the MLAB/VXX correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is -0.29, and annualized covariance runs at -981.7 %².
VXX is close to the least connected end of MLAB's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months MLAB outperformed by 138.1 percentage points (+88.4% for MLAB against -49.7% for VXX).
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.
MLAB vs VXX: side by side
| MLAB (Mesa Laboratories, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +88.4% | -49.7% |
| 5-year return | -51.1% | -95.6% |
| Volatility (ann.) | 52.3% | 60.9% |
| Beta vs S&P 500 | 1.12 | -3.31 |
| Max drawdown (3Y) | -62.8% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 151.4 | – |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLAB | VXX |
|---|---|---|
| 2022 | -49.2% | -23.8% |
| 2023 | -36.6% | -72.5% |
| 2024 | +26.6% | -26.2% |
| 2025 | -40.0% | -42.2% |
| 2026 | +64.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLAB and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between MLAB and VXX?
As of 2026-08-27, the correlation of weekly returns between MLAB and VXX is -0.31 over 3 years, -0.31 over 1 year and -0.29 over 5 years.
Is VXX a good diversifier for MLAB?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mlab-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlab-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MLAB correlations · VXX correlations
