MXCT vs VXZ: Correlation
How closely do MaxCyte, Inc. (MXCT) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXCT and VXZ?
Across a 3-year window, the weekly returns of MXCT and VXZ correlate at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives -0.32, with an annualized covariance of -392.5 %².
Among the 11 assets we track against MXCT, VXZ sits near the bottom by co-movement, at rank #9. Over the last 12 months MXCT came out ahead by 7.5 percentage points (-8.6% against -16.1%). Note the risk asymmetry: MXCT runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MXCT vs VXZ: side by side
| MXCT (MaxCyte, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.6% | -16.1% |
| 5-year return | -91.7% | -53.1% |
| Volatility (ann.) | 63.0% | 25.6% |
| Beta vs S&P 500 | 1.35 | -1.31 |
| Max drawdown (3Y) | -87.4% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXCT | VXZ |
|---|---|---|
| 2022 | -46.4% | +0.5% |
| 2023 | -13.9% | -44.0% |
| 2024 | -11.5% | -12.7% |
| 2025 | -62.7% | +5.7% |
| 2026 | -17.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXCT and VXZ good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MXCT and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.28 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for MXCT?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/mxct-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mxct-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MXCT correlations · VXZ correlations
