Multiwavelength variability and correlation studies of Mrk 421 during historically low X-ray and $\gamma$-ray activity in 2015$-$2016

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We report a characterization of the multi-band flux variability and correlations of the nearby (z=0.031) blazar Markarian 421 (Mrk 421) using data from Mets\"{a}hovi, Swift, Fermi-LAT, MAGIC, FACT and other collaborations and instruments from November 2014 till June 2016.

• Mrk 421 did not show any prominent flaring activity, but exhibited periods of historically low activity above 1 TeV (F$_{>1\mathrm{TeV}}<$ 1.7$\times$10$^{-12}$ ph cm$^{-2}$ s$^{-1}$) and in the 2-10 keV (X-ray) band (F$_{2-10 \mathrm{keV}}<$3.6$\times$10$^{-11}$ erg cm$^{-2}$ s$^{-1}$), during which the Swift-BAT data suggests an additional spectral component beyond the regular synchrotron emission.
• The highest flux variability occurs in X-rays and very-high-energy (E$>$0.1 TeV) $\gamma$-rays, which, despite the low activity, show a significant positive correlation with no time lag.
• The HR$_\mathrm{keV}$ and HR$_\mathrm{TeV}$ show the harder-when-brighter trend observed in many blazars, but the trend flattens at the highest fluxes, which suggests a change in the processes dominating the blazar variability.