MPAA vs VXZ: Correlation
Measured on weekly returns over the past three years, Motorcar Parts of America, Inc. (MPAA) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPAA and VXZ?
Over the past 3 years, MPAA and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.24 over 3. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -420.6 %².
Among the 12 assets we track against MPAA, VXZ sits near the bottom by co-movement, at rank #11. Over the last 12 months VXZ came out ahead by 7.5 percentage points (-23.6% against -16.1%). Note the risk asymmetry: MPAA runs 2.7 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.
MPAA vs VXZ: side by side
| MPAA (Motorcar Parts of America, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -23.6% | -16.1% |
| 5-year return | -42.5% | -53.1% |
| Volatility (ann.) | 69.6% | 25.6% |
| Beta vs S&P 500 | 1.42 | -1.31 |
| Max drawdown (3Y) | -53.3% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPAA | VXZ |
|---|---|---|
| 2022 | -30.5% | +0.5% |
| 2023 | -21.2% | -44.0% |
| 2024 | -18.6% | -12.7% |
| 2025 | +62.4% | +5.7% |
| 2026 | -7.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPAA and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between MPAA and VXZ?
The MPAA/VXZ correlation stands at -0.24 on a 3-year window (1 year: -0.23, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MPAA?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/mpaa-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpaa-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPAA correlations · VXZ correlations
