MPB vs VXX: Correlation
Mid Penn Bancorp (MPB) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPB and VXX?
Across a 3-year window, the weekly returns of MPB and VXX correlate at -0.41, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.41 over 3. Stretching to 5 years gives -0.31, with an annualized covariance of -693.2 %².
VXX is close to the least connected end of MPB's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months MPB outperformed by 74.9 percentage points (+25.2% for MPB against -49.7% for VXX). One caveat on sizing: VXX is 2.2 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.
MPB vs VXX: side by side
| MPB (Mid Penn Bancorp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.2% | -49.7% |
| 5-year return | +61.4% | -95.6% |
| Volatility (ann.) | 27.8% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -26.8% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 2.42% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPB | VXX |
|---|---|---|
| 2022 | -2.9% | -23.8% |
| 2023 | -16.1% | -72.5% |
| 2024 | +22.8% | -26.2% |
| 2025 | +10.7% | -42.2% |
| 2026 | +20.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPB and VXX good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MPB and VXX?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.35 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for MPB?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 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/mpb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MPB correlations · VXX correlations
