MSA vs VXX: Correlation
How closely do MSA Safety Incorporated (MSA) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSA and VXX?
On 3 years of weekly data the MSA/VXX correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.29 versus -0.48 over 3 years. The 5-year figure is -0.44, and annualized covariance runs at -681.2 %².
VXX is close to the least connected end of MSA's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months MSA outperformed by 61.1 percentage points (+11.4% for MSA against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.6 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.
MSA vs VXX: side by side
| MSA (MSA Safety Incorporated) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.4% | -49.7% |
| 5-year return | +27.9% | -95.6% |
| Volatility (ann.) | 23.4% | 60.9% |
| Beta vs S&P 500 | 0.85 | -3.31 |
| Max drawdown (3Y) | -34.3% | -83.3% |
| Market cap | $7.4B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 1.12% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSA | VXX |
|---|---|---|
| 2022 | -3.1% | -23.8% |
| 2023 | +18.5% | -72.5% |
| 2024 | -0.7% | -26.2% |
| 2025 | -2.1% | -42.2% |
| 2026 | +20.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSA and VXX good diversifiers for each other?
Yes. With a correlation of -0.48, MSA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MSA and VXX?
The MSA/VXX correlation stands at -0.48 on a 3-year window (1 year: -0.29, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MSA?
Yes. With a correlation of -0.48, MSA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
A reading of -0.48 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/msa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MSA correlations · VXX correlations
