MTH vs VXZ: Correlation
How closely do Meritage Homes Corporation (MTH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTH and VXZ?
Over the past 3 years, MTH and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.37 lands near the 3-year figure. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -404.2 %².
VXZ is close to the least connected end of MTH's tracked universe, ranking #35 of 35. On 12-month performance MTH holds a 9.1-point edge, -7.0% against -16.1%. Risk is not evenly split, since MTH carries 1.5 times the volatility of the other side.
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.
MTH vs VXZ: side by side
| MTH (Meritage Homes Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.0% | -16.1% |
| 5-year return | +34.0% | -53.1% |
| Volatility (ann.) | 39.0% | 25.6% |
| Beta vs S&P 500 | 0.90 | -1.31 |
| Max drawdown (3Y) | -43.0% | -36.4% |
| Market cap | $4.6B | – |
| P/E (trailing) | 15.0 | – |
| Dividend yield | 2.52% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTH | VXZ |
|---|---|---|
| 2022 | -24.5% | +0.5% |
| 2023 | +90.5% | -44.0% |
| 2024 | -10.2% | -12.7% |
| 2025 | -12.3% | +5.7% |
| 2026 | +8.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between MTH and VXZ?
As of 2026-08-27, the correlation of weekly returns between MTH and VXZ is -0.40 over 3 years, -0.37 over 1 year and -0.41 over 5 years.
Is VXZ a good diversifier for MTH?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
A reading of -0.40 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/mth-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mth-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MTH correlations · VXZ correlations
