MRTN vs VXZ: Correlation
Measured on weekly returns over the past three years, Marten Transport, Ltd. (MRTN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRTN and VXZ?
Across a 3-year window, the weekly returns of MRTN and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.35). Stretching to 5 years gives -0.31, with an annualized covariance of -256.5 %².
VXZ is close to the least connected end of MRTN's tracked universe, ranking #21 of 21. The last year tells two different stories: MRTN led by 39.5 percentage points, +23.4% for MRTN 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.
MRTN vs VXZ: side by side
| MRTN (Marten Transport, Ltd.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.4% | -16.1% |
| 5-year return | -1.0% | -53.1% |
| Volatility (ann.) | 28.6% | 25.6% |
| Beta vs S&P 500 | 0.78 | -1.31 |
| Max drawdown (3Y) | -54.8% | -36.4% |
| Market cap | $1.2B | – |
| P/E (trailing) | 96.4 | – |
| Dividend yield | 1.66% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRTN | VXZ |
|---|---|---|
| 2022 | +16.7% | +0.5% |
| 2023 | +7.3% | -44.0% |
| 2024 | -24.6% | -12.7% |
| 2025 | -25.7% | +5.7% |
| 2026 | +28.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRTN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.35, MRTN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MRTN and VXZ?
As of 2026-08-27, the correlation of weekly returns between MRTN and VXZ is -0.35 over 3 years, -0.23 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for MRTN?
Yes. With a correlation of -0.35, MRTN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 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/mrtn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrtn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MRTN correlations · VXZ correlations
