MRK vs VXX: Correlation
How closely do Merck & Co. (MRK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRK and VXX?
Across a 3-year window, the weekly returns of MRK and VXX correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.08 versus -0.25 over 3 years. Stretching to 5 years gives -0.18, with an annualized covariance of -417.0 %².
Among the 34 assets we track against MRK, VXX sits near the bottom by co-movement, at rank #34. Correlation aside, the last 12 months split them widely, with MRK ahead by 133.5 points (+83.8% versus -49.7%). 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.
MRK vs VXX: side by side
| MRK (Merck & Co.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +83.8% | -49.7% |
| 5-year return | +128.5% | -95.6% |
| Volatility (ann.) | 27.9% | 60.9% |
| Beta vs S&P 500 | 0.28 | -3.31 |
| Max drawdown (3Y) | -43.4% | -83.3% |
| Market cap | $368.9B | – |
| P/E (trailing) | 121.6 | – |
| Dividend yield | 2.17% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MRK | VXX |
|---|---|---|
| 2022 | +49.4% | -23.8% |
| 2023 | +1.0% | -72.5% |
| 2024 | -6.3% | -26.2% |
| 2025 | +9.8% | -42.2% |
| 2026 | +44.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRK and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between MRK and VXX?
As of 2026-08-27, the correlation of weekly returns between MRK and VXX is -0.25 over 3 years, -0.08 over 1 year and -0.18 over 5 years.
Is VXX a good diversifier for MRK?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/mrk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MRK correlations · VXX correlations
