MUFG vs VXZ: Correlation
Measured on weekly returns over the past three years, Mitsubishi UFJ Financial Group, Inc. (MUFG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MUFG and VXZ?
Across a 3-year window, the weekly returns of MUFG and VXZ correlate at -0.50, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.34) runs above the 3-year figure (-0.50). Stretching to 5 years gives -0.52, with an annualized covariance of -394.9 %².
Among the 10 assets we track against MUFG, VXZ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with MUFG ahead by 63.0 points (+46.9% 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.
MUFG vs VXZ: side by side
| MUFG (Mitsubishi UFJ Financial Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +46.9% | -16.1% |
| 5-year return | +338.5% | -53.1% |
| Volatility (ann.) | 30.7% | 25.6% |
| Beta vs S&P 500 | 0.98 | -1.31 |
| Max drawdown (3Y) | -26.6% | -36.4% |
| Market cap | $252.6B | – |
| P/E (trailing) | 16.7 | – |
| Dividend yield | 383.24% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MUFG | VXZ |
|---|---|---|
| 2022 | +22.2% | +0.5% |
| 2023 | +29.1% | -44.0% |
| 2024 | +40.1% | -12.7% |
| 2025 | +38.0% | +5.7% |
| 2026 | +41.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MUFG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.50, MUFG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MUFG and VXZ?
The MUFG/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.34, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for MUFG?
Yes. With a correlation of -0.50, MUFG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 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/mufg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mufg-vs-vxz/)
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Related comparisons
Hubs: MUFG correlations · VXZ correlations
