MTA vs VXX: Correlation
Measured on weekly returns over the past three years, Metalla Royalty & Streaming Ltd. (MTA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTA and VXX?
On 3 years of weekly data the MTA/VXX correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.28). The 5-year figure is -0.26, and annualized covariance runs at -889.6 %².
VXX is close to the least connected end of MTA's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months MTA outperformed by 169.4 percentage points (+119.7% for MTA 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.
MTA vs VXX: side by side
| MTA (Metalla Royalty & Streaming Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +119.7% | -49.7% |
| 5-year return | +45.5% | -95.6% |
| Volatility (ann.) | 51.6% | 60.9% |
| Beta vs S&P 500 | 1.16 | -3.31 |
| Max drawdown (3Y) | -44.4% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTA | VXX |
|---|---|---|
| 2022 | -29.1% | -23.8% |
| 2023 | -37.0% | -72.5% |
| 2024 | -18.5% | -26.2% |
| 2025 | +210.0% | -42.2% |
| 2026 | +41.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTA and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, MTA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MTA and VXX?
As of 2026-08-27, the correlation of weekly returns between MTA and VXX is -0.28 over 3 years, -0.43 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for MTA?
Yes. With a correlation of -0.28, MTA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/mta-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mta-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTA correlations · VXX correlations
