MRVI vs VXX: Correlation
How closely do Maravai LifeSciences Holdings, Inc. (MRVI) 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 -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MRVI and VXX?
On 3 years of weekly data the MRVI/VXX correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.01 versus -0.20 over 3 years. The 5-year figure is -0.19, and annualized covariance runs at -1053.1 %².
Among the 11 assets we track against MRVI, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months MRVI outperformed by 308.9 percentage points (+259.2% for MRVI against -49.7% for VXX).
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.
MRVI vs VXX: side by side
| MRVI (Maravai LifeSciences Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +259.2% | -49.7% |
| 5-year return | -86.0% | -95.6% |
| Volatility (ann.) | 85.9% | 60.9% |
| Beta vs S&P 500 | 1.35 | -3.31 |
| Max drawdown (3Y) | -84.8% | -83.3% |
| Market cap | $3.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MRVI | VXX |
|---|---|---|
| 2022 | -65.8% | -23.8% |
| 2023 | -54.2% | -72.5% |
| 2024 | -16.8% | -26.2% |
| 2025 | -40.4% | -42.2% |
| 2026 | +157.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MRVI and VXX good diversifiers for each other?
Yes. With a correlation of -0.20, MRVI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MRVI and VXX?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.01 over the last year and -0.19 over 5 years.
Is VXX a good diversifier for MRVI?
Yes. With a correlation of -0.20, MRVI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/mrvi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mrvi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MRVI correlations · VXX correlations
