MLM vs VXZ: Correlation
Measured on weekly returns over the past three years, Martin Marietta Materials (MLM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MLM and VXZ?
Over the past 3 years, MLM and VXZ moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.49 over 1 year against -0.43 over 3. Over 5 years the correlation is -0.49, and the annualized covariance of weekly returns is -262.1 %².
Among the 36 assets we track against MLM, VXZ sits near the bottom by co-movement, at rank #36. Their 12-month results are close: -13.8% for MLM 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.
MLM vs VXZ: side by side
| MLM (Martin Marietta Materials) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.8% | -16.1% |
| 5-year return | +42.4% | -53.1% |
| Volatility (ann.) | 23.9% | 25.6% |
| Beta vs S&P 500 | 0.85 | -1.31 |
| Max drawdown (3Y) | -26.8% | -36.4% |
| Market cap | $37.5B | – |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.62% | – |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | MLM | VXZ |
|---|---|---|
| 2022 | -22.7% | +0.5% |
| 2023 | +48.6% | -44.0% |
| 2024 | +4.1% | -12.7% |
| 2025 | +21.3% | +5.7% |
| 2026 | -14.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between MLM and VXZ?
As of 2026-08-27, the correlation of weekly returns between MLM and VXZ is -0.43 over 3 years, -0.49 over 1 year and -0.49 over 5 years.
Is VXZ a good diversifier for MLM?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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/mlm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MLM correlations · VXZ correlations
