MSM vs VXZ: Correlation
Measured on weekly returns over the past three years, MSC Industrial Direct Company, Inc. (MSM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSM and VXZ?
On 3 years of weekly data the MSM/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.24) runs above the 3-year figure (-0.34). The 5-year figure is -0.41, and annualized covariance runs at -217.7 %².
VXZ is close to the least connected end of MSM's tracked universe, ranking #16 of 17. Correlation aside, the last 12 months split them widely, with MSM ahead by 54.2 points (+38.1% 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.
MSM vs VXZ: side by side
| MSM (MSC Industrial Direct Company, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +38.1% | -16.1% |
| 5-year return | +73.8% | -53.1% |
| Volatility (ann.) | 25.3% | 25.6% |
| Beta vs S&P 500 | 0.78 | -1.31 |
| Max drawdown (3Y) | -29.3% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 29.6 | – |
| Dividend yield | 2.84% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSM | VXZ |
|---|---|---|
| 2022 | +0.9% | +0.5% |
| 2023 | +28.5% | -44.0% |
| 2024 | -23.4% | -12.7% |
| 2025 | +17.4% | +5.7% |
| 2026 | +49.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSM and VXZ good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MSM and VXZ?
The MSM/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.24, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MSM?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
A reading of -0.34 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/msm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MSM correlations · VXZ correlations
