MTRX vs VXX: Correlation
Matrix Service Company (MTRX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTRX and VXX?
Across a 3-year window, the weekly returns of MTRX and VXX correlate at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.34). Stretching to 5 years gives -0.31, with an annualized covariance of -1057.0 %².
Among the 12 assets we track against MTRX, VXX sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months MTRX outperformed by 20.7 percentage points (-29.0% for MTRX 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.
MTRX vs VXX: side by side
| MTRX (Matrix Service Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -29.0% | -49.7% |
| 5-year return | -3.9% | -95.6% |
| Volatility (ann.) | 51.6% | 60.9% |
| Beta vs S&P 500 | 1.13 | -3.31 |
| Max drawdown (3Y) | -36.0% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MTRX | VXX |
|---|---|---|
| 2022 | -17.3% | -23.8% |
| 2023 | +57.2% | -72.5% |
| 2024 | +22.4% | -26.2% |
| 2025 | -2.3% | -42.2% |
| 2026 | -6.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MTRX and VXX 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 MTRX and VXX?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.07 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for MTRX?
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/mtrx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mtrx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MTRX correlations · VXX correlations
