MPC vs VXZ: Correlation
Marathon Petroleum (MPC) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPC and VXZ?
Over the past 3 years, MPC and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.23) than the 3-year average (-0.26). Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -227.7 %².
Among the 29 assets we track against MPC, VXZ sits near the bottom by co-movement, at rank #29. Their recent paths diverged sharply: over the last 12 months MPC outperformed by 123.9 percentage points (+107.8% for MPC 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.
MPC vs VXZ: side by side
| MPC (Marathon Petroleum) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +107.8% | -16.1% |
| 5-year return | +589.6% | -53.1% |
| Volatility (ann.) | 34.2% | 25.6% |
| Beta vs S&P 500 | 0.48 | -1.31 |
| Max drawdown (3Y) | -44.7% | -36.4% |
| Market cap | $102.1B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 1.10% | – |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | MPC | VXZ |
|---|---|---|
| 2022 | +86.6% | +0.5% |
| 2023 | +30.5% | -44.0% |
| 2024 | -4.1% | -12.7% |
| 2025 | +19.2% | +5.7% |
| 2026 | +126.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between MPC and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with 0.23 over the last year and -0.26 over 5 years.
Is VXZ a good diversifier for MPC?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mpc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPC correlations · VXZ correlations
