MPB vs VXZ: Correlation
Mid Penn Bancorp (MPB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPB and VXZ?
Across a 3-year window, the weekly returns of MPB and VXZ correlate at -0.43, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -305.4 %².
Out of 12 assets tracked against MPB, VXZ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months MPB outperformed by 41.3 percentage points (+25.2% for MPB against -16.1% for VXZ).
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 VXZ: side by side
| MPB (Mid Penn Bancorp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.2% | -16.1% |
| 5-year return | +61.4% | -53.1% |
| Volatility (ann.) | 27.8% | 25.6% |
| Beta vs S&P 500 | 0.71 | -1.31 |
| Max drawdown (3Y) | -26.8% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 2.42% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPB | VXZ |
|---|---|---|
| 2022 | -2.9% | +0.5% |
| 2023 | -16.1% | -44.0% |
| 2024 | +22.8% | -12.7% |
| 2025 | +10.7% | +5.7% |
| 2026 | +20.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.43, MPB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MPB and VXZ?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.37 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for MPB?
Yes. With a correlation of -0.43, MPB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 mean?
A reading of -0.43 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/mpb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPB correlations · VXZ correlations
