ANNA vs ZBH: Correlation
How closely do AleAnna, Inc. (ANNA) and Zimmer Biomet (ZBH) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNA and ZBH?
Across a 3-year window, the weekly returns of ANNA and ZBH correlate at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -375.2 %².
Among the 103 assets we track against ANNA, ZBH ranks #36 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ZBH ahead by 28.4 points (-34.3% versus -5.9%). Note the risk asymmetry: ANNA runs 3.6 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.
ANNA vs ZBH: side by side
| ANNA (AleAnna, Inc.) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -34.3% | -5.9% |
| 5-year return | -71.7% | -28.6% |
| Volatility (ann.) | 88.7% | 24.9% |
| Beta vs S&P 500 | -0.92 | 0.51 |
| Max drawdown (3Y) | -86.3% | -38.8% |
| Market cap | $0.1B | $19.0B |
| P/E (trailing) | 14.7 | 24.6 |
| Dividend yield | 0.00% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ANNA | ZBH |
|---|---|---|
| 2022 | – | +4.2% |
| 2023 | +7.3% | -3.8% |
| 2024 | -37.6% | -12.5% |
| 2025 | -57.6% | -14.0% |
| 2026 | -3.0% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNA and ZBH good diversifiers for each other?
Yes. With a correlation of -0.17, ANNA and ZBH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ANNA and ZBH?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.23 over the last year and -0.14 over 5 years.
Is ZBH a good diversifier for ANNA?
Yes. With a correlation of -0.17, ANNA and ZBH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/anna-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/anna-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANNA correlations · ZBH correlations
