MMT vs VXX: Correlation
Aberdeen Multi-Market Income Fund (MMT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMT and VXX?
Over the past 3 years, MMT and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.29) runs above the 3-year figure (-0.44). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -225.2 %².
Among the 15 assets we track against MMT, VXX sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months MMT outperformed by 52.9 percentage points (+3.2% for MMT against -49.7% for VXX). One caveat on sizing: VXX is 7.2 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.
MMT vs VXX: side by side
| MMT (Aberdeen Multi-Market Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.2% | -49.7% |
| 5-year return | +5.0% | -95.6% |
| Volatility (ann.) | 8.4% | 60.9% |
| Beta vs S&P 500 | 0.27 | -3.31 |
| Max drawdown (3Y) | -7.1% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 9.03% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MMT | VXX |
|---|---|---|
| 2022 | -23.0% | -23.8% |
| 2023 | +10.1% | -72.5% |
| 2024 | +12.5% | -26.2% |
| 2025 | +8.1% | -42.2% |
| 2026 | +1.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMT and VXX good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MMT and VXX?
The MMT/VXX correlation stands at -0.44 on a 3-year window (1 year: -0.29, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MMT?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 mean?
A reading of -0.44 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/mmt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mmt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MMT correlations · VXX correlations
