MRK vs VXZ: Correlation
Measured on weekly returns over the past three years, Merck & Co. (MRK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRK and VXZ?
Across a 3-year window, the weekly returns of MRK and VXZ correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.13 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.16, with an annualized covariance of -166.0 %².
Out of 34 assets tracked against MRK, VXZ lands near the bottom at #33. Correlation aside, the last 12 months split them widely, with MRK ahead by 99.9 points (+83.8% versus -16.1%).
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 VXZ: side by side
| MRK (Merck & Co.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +83.8% | -16.1% |
| 5-year return | +128.5% | -53.1% |
| Volatility (ann.) | 27.9% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -43.4% | -36.4% |
| Market cap | $368.9B | – |
| P/E (trailing) | 121.6 | – |
| Dividend yield | 2.17% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | MRK | VXZ |
|---|---|---|
| 2022 | +49.4% | +0.5% |
| 2023 | +1.0% | -44.0% |
| 2024 | -6.3% | -12.7% |
| 2025 | +9.8% | +5.7% |
| 2026 | +44.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.23, MRK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MRK and VXZ?
The MRK/VXZ correlation stands at -0.23 on a 3-year window (1 year: -0.13, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MRK?
Yes. With a correlation of -0.23, MRK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MRK correlations · VXZ correlations
