ALTO vs ZD: Correlation
Measured on weekly returns over the past three years, Alto Ingredients, Inc. (ALTO) and Ziff Davis, Inc. (ZD) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTO and ZD?
On 3 years of weekly data the ALTO/ZD correlation comes out at 0.39, moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.39). The 5-year figure is 0.33, and annualized covariance runs at 1901.9 %².
Among the 15 assets we track against ALTO, ZD ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALTO outperformed by 241.8 percentage points (+289.5% for ALTO against +47.7% for ZD). Note the risk asymmetry: ALTO runs 1.8 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.
ALTO vs ZD: side by side
| ALTO (Alto Ingredients, Inc.) | ZD (Ziff Davis, Inc.) | |
|---|---|---|
| 1-year return | +289.5% | +47.7% |
| 5-year return | -16.4% | -53.5% |
| Volatility (ann.) | 93.7% | 52.4% |
| Beta vs S&P 500 | 0.15 | 1.08 |
| Max drawdown (3Y) | -84.1% | -62.6% |
| Market cap | $0.3B | $1.9B |
| P/E (trailing) | 6.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTO | ZD |
|---|---|---|
| 2022 | -40.1% | -28.6% |
| 2023 | -7.6% | -15.1% |
| 2024 | -41.4% | -19.1% |
| 2025 | +84.6% | -35.3% |
| 2026 | +42.0% | +58.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTO and ZD good diversifiers for each other?
Reasonably. At 0.39, ALTO and ZD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ALTO and ZD?
As of 2026-08-27, the correlation of weekly returns between ALTO and ZD is 0.39 over 3 years, 0.56 over 1 year and 0.33 over 5 years.
Is ZD a good diversifier for ALTO?
Reasonably. At 0.39, ALTO and ZD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/alto-vs-zd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alto-vs-zd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALTO correlations · ZD correlations
