MNKD vs VXX: Correlation
How closely do MannKind Corporation (MNKD) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNKD and VXX?
On 3 years of weekly data the MNKD/VXX correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.30). The 5-year figure is -0.25, and annualized covariance runs at -1046.8 %².
Among the 12 assets we track against MNKD, VXX sits near the bottom by co-movement, at rank #11. The last year tells two different stories: MNKD led by 39.5 percentage points, -10.2% for MNKD against -49.7% for VXX.
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.
MNKD vs VXX: side by side
| MNKD (MannKind Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.2% | -49.7% |
| 5-year return | -13.8% | -95.6% |
| Volatility (ann.) | 57.7% | 60.9% |
| Beta vs S&P 500 | 1.17 | -3.31 |
| Max drawdown (3Y) | -69.4% | -83.3% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNKD | VXX |
|---|---|---|
| 2022 | +20.6% | -23.8% |
| 2023 | -30.9% | -72.5% |
| 2024 | +76.6% | -26.2% |
| 2025 | -11.8% | -42.2% |
| 2026 | -28.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNKD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between MNKD and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.45 over the last year and -0.25 over 5 years.
Is VXX a good diversifier for MNKD?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/mnkd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mnkd-vs-vxx/)
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Related comparisons
Hubs: MNKD correlations · VXX correlations
