MOD vs VXX: Correlation
Measured on weekly returns over the past three years, Modine Manufacturing Company (MOD) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOD and VXX?
Over the past 3 years, MOD and VXX moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.40). Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -1434.4 %².
Out of 15 assets tracked against MOD, VXX lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with MOD ahead by 82.4 points (+32.7% versus -49.7%).
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.
MOD vs VXX: side by side
| MOD (Modine Manufacturing Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.7% | -49.7% |
| 5-year return | +1391.7% | -95.6% |
| Volatility (ann.) | 59.1% | 60.9% |
| Beta vs S&P 500 | 1.87 | -3.31 |
| Max drawdown (3Y) | -51.6% | -83.3% |
| Market cap | $9.9B | – |
| P/E (trailing) | 70.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MOD | VXX |
|---|---|---|
| 2022 | +96.8% | -23.8% |
| 2023 | +200.6% | -72.5% |
| 2024 | +94.2% | -26.2% |
| 2025 | +15.2% | -42.2% |
| 2026 | +39.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between MOD and VXX?
The MOD/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.19, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MOD?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
A reading of -0.40 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/mod-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mod-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MOD correlations · VXX correlations
