MLI vs VXZ: Correlation
How closely do Mueller Industries, Inc. (MLI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLI and VXZ?
Across a 3-year window, the weekly returns of MLI and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.35). Stretching to 5 years gives -0.36, with an annualized covariance of -280.5 %².
Among the 10 assets we track against MLI, VXZ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: MLI led by 50.5 percentage points, +34.4% for MLI against -16.1% for VXZ.
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 VXZ: side by side
| MLI (Mueller Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.4% | -16.1% |
| 5-year return | +509.6% | -53.1% |
| Volatility (ann.) | 31.5% | 25.6% |
| Beta vs S&P 500 | 0.93 | -1.31 |
| Max drawdown (3Y) | -27.8% | -36.4% |
| Market cap | $14.2B | – |
| P/E (trailing) | 16.7 | – |
| Dividend yield | 0.94% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLI | VXZ |
|---|---|---|
| 2022 | +1.0% | +0.5% |
| 2023 | +62.4% | -44.0% |
| 2024 | +70.5% | -12.7% |
| 2025 | +46.3% | +5.7% |
| 2026 | +12.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between MLI and VXZ?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.10 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for MLI?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mli-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLI correlations · VXZ correlations
