MVBF vs VXZ: Correlation
How closely do MVB Financial Corp. (MVBF) 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 MVBF and VXZ?
Across a 3-year window, the weekly returns of MVBF and VXZ correlate at -0.40, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.40 over 3. Stretching to 5 years gives -0.36, with an annualized covariance of -338.2 %².
Out of 11 assets tracked against MVBF, VXZ lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months MVBF outperformed by 45.6 percentage points (+29.5% for MVBF against -16.1% for VXZ).
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.
MVBF vs VXZ: side by side
| MVBF (MVB Financial Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.5% | -16.1% |
| 5-year return | -11.2% | -53.1% |
| Volatility (ann.) | 32.7% | 25.6% |
| Beta vs S&P 500 | 0.78 | -1.31 |
| Max drawdown (3Y) | -35.3% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 2.27% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MVBF | VXZ |
|---|---|---|
| 2022 | -45.8% | +0.5% |
| 2023 | +5.7% | -44.0% |
| 2024 | -5.1% | -12.7% |
| 2025 | +28.7% | +5.7% |
| 2026 | +18.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MVBF and VXZ good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MVBF and VXZ?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.43 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for MVBF?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 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/mvbf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mvbf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MVBF correlations · VXZ correlations
