MLM vs VXX: Correlation
How closely do Martin Marietta Materials (MLM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLM and VXX?
Across a 3-year window, the weekly returns of MLM and VXX correlate at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.42 lands near the 3-year figure. Stretching to 5 years gives -0.42, with an annualized covariance of -567.7 %².
Out of 36 assets tracked against MLM, VXX lands near the bottom at #34. Correlation aside, the last 12 months split them widely, with MLM ahead by 35.9 points (-13.8% versus -49.7%). One caveat on sizing: VXX is 2.5 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.
MLM vs VXX: side by side
| MLM (Martin Marietta Materials) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.8% | -49.7% |
| 5-year return | +42.4% | -95.6% |
| Volatility (ann.) | 23.9% | 60.9% |
| Beta vs S&P 500 | 0.85 | -3.31 |
| Max drawdown (3Y) | -26.8% | -83.3% |
| Market cap | $37.5B | – |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.62% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | MLM | VXX |
|---|---|---|
| 2022 | -22.7% | -23.8% |
| 2023 | +48.6% | -72.5% |
| 2024 | +4.1% | -26.2% |
| 2025 | +21.3% | -42.2% |
| 2026 | -14.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLM and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between MLM and VXX?
The MLM/VXX correlation stands at -0.39 on a 3-year window (1 year: -0.42, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MLM?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 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/mlm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MLM correlations · VXX correlations
