MLI vs VXX: Correlation
Mueller Industries, Inc. (MLI) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLI and VXX?
Over the past 3 years, MLI and VXX moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.36). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -686.7 %².
Out of 10 assets tracked against MLI, VXX lands near the bottom at #10. The last year tells two different stories: MLI led by 84.1 percentage points, +34.4% for MLI against -49.7% for VXX. One caveat on sizing: VXX is 1.9 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.
MLI vs VXX: side by side
| MLI (Mueller Industries, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.4% | -49.7% |
| 5-year return | +509.6% | -95.6% |
| Volatility (ann.) | 31.5% | 60.9% |
| Beta vs S&P 500 | 0.93 | -3.31 |
| Max drawdown (3Y) | -27.8% | -83.3% |
| Market cap | $14.2B | – |
| P/E (trailing) | 16.7 | – |
| Dividend yield | 0.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLI | VXX |
|---|---|---|
| 2022 | +1.0% | -23.8% |
| 2023 | +62.4% | -72.5% |
| 2024 | +70.5% | -26.2% |
| 2025 | +46.3% | -42.2% |
| 2026 | +12.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between MLI and VXX?
The MLI/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.12, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MLI?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 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/mli-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mli-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MLI correlations · VXX correlations
