MMI vs VXX: Correlation
How closely do Marcus & Millichap, Inc. (MMI) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMI and VXX?
Over the past 3 years, MMI and VXX moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.02) than the 3-year average (-0.36). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -685.5 %².
Among the 18 assets we track against MMI, VXX sits near the bottom by co-movement, at rank #17. The last year tells two different stories: MMI led by 48.4 percentage points, -1.3% for MMI against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.9 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.
MMI vs VXX: side by side
| MMI (Marcus & Millichap, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.3% | -49.7% |
| 5-year return | -11.7% | -95.6% |
| Volatility (ann.) | 31.5% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -41.7% | -83.3% |
| Market cap | $1.2B | – |
| P/E (trailing) | 85.9 | – |
| Dividend yield | 1.55% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MMI | VXX |
|---|---|---|
| 2022 | -30.8% | -23.8% |
| 2023 | +28.8% | -72.5% |
| 2024 | -11.2% | -26.2% |
| 2025 | -27.6% | -42.2% |
| 2026 | +17.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMI and VXX good diversifiers for each other?
Yes. With a correlation of -0.36, MMI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MMI and VXX?
The MMI/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.02, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MMI?
Yes. With a correlation of -0.36, MMI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
A reading of -0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mmi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mmi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MMI correlations · VXX correlations
