ADI vs ZBRA: Correlation
Measured on weekly returns over the past three years, Analog Devices (ADI) and Zebra Technologies (ZBRA) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADI and ZBRA?
Across a 3-year window, the weekly returns of ADI and ZBRA correlate at 0.46, moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.46). Stretching to 5 years gives 0.53, with an annualized covariance of 619.1 %².
By 3-year correlation, ZBRA places #37 of the 51 assets tracked against ADI. Correlation aside, the last 12 months split them widely, with ADI ahead by 36.3 points (+48.6% versus +12.3%). Across three years, the rolling one-year figure varied moderately, from 0.28 to 0.67.
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.
ADI vs ZBRA: side by side
| ADI (Analog Devices) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +48.6% | +12.3% |
| 5-year return | +143.1% | -38.2% |
| Volatility (ann.) | 32.6% | 40.8% |
| Beta vs S&P 500 | 1.56 | 1.54 |
| Max drawdown (3Y) | -32.2% | -52.7% |
| Market cap | $181.5B | $17.1B |
| P/E (trailing) | 44.6 | 33.0 |
| Dividend yield | 1.15% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | ADI | ZBRA |
|---|---|---|
| 2022 | -4.9% | -56.9% |
| 2023 | +23.4% | +6.6% |
| 2024 | +8.8% | +41.3% |
| 2025 | +29.8% | -37.1% |
| 2026 | +38.9% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADI and ZBRA good diversifiers for each other?
Reasonably. At 0.46, ADI and ZBRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADI and ZBRA?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.31 over the last year and 0.53 over 5 years.
Is ZBRA a good diversifier for ADI?
Reasonably. At 0.46, ADI and ZBRA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/adi-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/adi-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADI correlations · ZBRA correlations
