MYRG vs VXZ: Correlation
How closely do MYR Group, Inc. (MYRG) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYRG and VXZ?
Across a 3-year window, the weekly returns of MYRG and VXZ correlate at -0.48, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.48 over 3 years. Stretching to 5 years gives -0.43, with an annualized covariance of -610.7 %².
Out of 14 assets tracked against MYRG, VXZ lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with MYRG ahead by 81.6 points (+65.5% versus -16.1%). Risk is not evenly split, since MYRG 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.
MYRG vs VXZ: side by side
| MYRG (MYR Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +65.5% | -16.1% |
| 5-year return | +196.6% | -53.1% |
| Volatility (ann.) | 49.8% | 25.6% |
| Beta vs S&P 500 | 1.63 | -1.31 |
| Max drawdown (3Y) | -50.3% | -36.4% |
| Market cap | $4.8B | – |
| P/E (trailing) | 29.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MYRG | VXZ |
|---|---|---|
| 2022 | -16.7% | +0.5% |
| 2023 | +57.1% | -44.0% |
| 2024 | +2.9% | -12.7% |
| 2025 | +46.9% | +5.7% |
| 2026 | +41.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYRG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.48, MYRG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MYRG and VXZ?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.27 over the last year and -0.43 over 5 years.
Is VXZ a good diversifier for MYRG?
Yes. With a correlation of -0.48, MYRG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
A reading of -0.48 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/myrg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/myrg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MYRG correlations · VXZ correlations
