ALV vs ZGN: Correlation
Autoliv, Inc. (ALV) and Ermenegildo Zegna N.V. (ZGN) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALV and ZGN?
Across a 3-year window, the weekly returns of ALV and ZGN correlate at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 580.3 %².
By 3-year correlation, ZGN places #9 of the 16 assets tracked against ALV. Their recent paths diverged sharply: over the last 12 months ZGN outperformed by 64.8 percentage points (+1.3% for ALV against +66.1% for ZGN). One caveat on sizing: ZGN is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALV vs ZGN: side by side
| ALV (Autoliv, Inc.) | ZGN (Ermenegildo Zegna N.V.) | |
|---|---|---|
| 1-year return | +1.3% | +66.1% |
| 5-year return | +58.0% | +34.1% |
| Volatility (ann.) | 25.8% | 43.6% |
| Beta vs S&P 500 | 0.88 | 1.27 |
| Max drawdown (3Y) | -39.3% | -59.0% |
| Market cap | $9.0B | $3.7B |
| P/E (trailing) | 14.5 | 31.0 |
| Dividend yield | 2.80% | 0.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALV | ZGN |
|---|---|---|
| 2022 | -23.5% | +0.8% |
| 2023 | +48.0% | +11.5% |
| 2024 | -12.7% | -27.8% |
| 2025 | +29.2% | +26.0% |
| 2026 | +5.1% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALV and ZGN good diversifiers for each other?
Only partially. A correlation of 0.52 means ALV and ZGN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALV and ZGN?
The ALV/ZGN correlation stands at 0.52 on a 3-year window (1 year: 0.57, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is ZGN a good diversifier for ALV?
Only partially. A correlation of 0.52 means ALV and ZGN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alv-vs-zgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alv-vs-zgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALV correlations · ZGN correlations
