MWA vs VXX: Correlation
MUELLER WATER PRODUCTS (MWA) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MWA and VXX?
On 3 years of weekly data the MWA/VXX correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.44 over 3 years. The 5-year figure is -0.45, and annualized covariance runs at -851.5 %².
Among the 11 assets we track against MWA, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: MWA led by 41.3 percentage points, -8.4% for MWA against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.9 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.
MWA vs VXX: side by side
| MWA (MUELLER WATER PRODUCTS) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.4% | -49.7% |
| 5-year return | +59.7% | -95.6% |
| Volatility (ann.) | 31.5% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -19.2% | -83.3% |
| Market cap | $3.9B | – |
| P/E (trailing) | 17.4 | – |
| Dividend yield | 1.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MWA | VXX |
|---|---|---|
| 2022 | -23.8% | -23.8% |
| 2023 | +36.3% | -72.5% |
| 2024 | +58.4% | -26.2% |
| 2025 | +7.0% | -42.2% |
| 2026 | +4.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MWA and VXX good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MWA and VXX?
As of 2026-08-27, the correlation of weekly returns between MWA and VXX is -0.44 over 3 years, -0.22 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for MWA?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 mean?
A reading of -0.44 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/mwa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mwa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MWA correlations · VXX correlations
