MRCY vs VXZ: Correlation
Mercury Systems Inc (MRCY) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRCY and VXZ?
Over the past 3 years, MRCY and VXZ moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.27). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -339.6 %².
Among the 16 assets we track against MRCY, VXZ sits near the bottom by co-movement, at rank #14. The last year tells two different stories: MRCY led by 48.9 percentage points, +32.8% for MRCY against -16.1% for VXZ. Note the risk asymmetry: MRCY runs 1.9 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.
MRCY vs VXZ: side by side
| MRCY (Mercury Systems Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.8% | -16.1% |
| 5-year return | +79.4% | -53.1% |
| Volatility (ann.) | 48.8% | 25.6% |
| Beta vs S&P 500 | 1.23 | -1.31 |
| Max drawdown (3Y) | -35.0% | -36.4% |
| Market cap | $5.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRCY | VXZ |
|---|---|---|
| 2022 | -18.7% | +0.5% |
| 2023 | -18.3% | -44.0% |
| 2024 | +14.8% | -12.7% |
| 2025 | +73.8% | +5.7% |
| 2026 | +23.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRCY and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between MRCY and VXZ?
The MRCY/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.38, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MRCY?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 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/mrcy-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrcy-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MRCY correlations · VXZ correlations
