MLP vs VXX: Correlation
How closely do Maui Land & Pineapple Company, Inc. (MLP) 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 MLP and VXX?
On 3 years of weekly data the MLP/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.39 over 3 years. The 5-year figure is -0.33, and annualized covariance runs at -936.2 %².
Among the 10 assets we track against MLP, VXX sits near the bottom by co-movement, at rank #9. The last year tells two different stories: MLP led by 41.5 percentage points, -8.2% for MLP against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MLP vs VXX: side by side
| MLP (Maui Land & Pineapple Company, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.2% | -49.7% |
| 5-year return | +43.7% | -95.6% |
| Volatility (ann.) | 39.6% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -45.5% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MLP | VXX |
|---|---|---|
| 2022 | -5.4% | -23.8% |
| 2023 | +68.7% | -72.5% |
| 2024 | +38.3% | -26.2% |
| 2025 | -22.9% | -42.2% |
| 2026 | -6.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MLP and VXX good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MLP and VXX?
The MLP/VXX correlation stands at -0.39 on a 3-year window (1 year: -0.22, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MLP?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/mlp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mlp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MLP correlations · VXX correlations
