ANTX vs ZBAO: Correlation
How closely do AN2 Therapeutics, Inc. (ANTX) and Zhibao Technology Inc. - Class A (ZBAO) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANTX and ZBAO?
Over the past 3 years, ANTX and ZBAO moved with a correlation of 0.37, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.51 versus 0.37 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 4242.7 %².
By 3-year correlation, ZBAO places #11 of the 30 assets tracked against ANTX. Correlation aside, the last 12 months split them widely, with ANTX ahead by 486.3 points (+403.5% versus -82.8%). One caveat on sizing: ANTX is 1.5 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.
ANTX vs ZBAO: side by side
| ANTX (AN2 Therapeutics, Inc.) | ZBAO (Zhibao Technology Inc. - Class A) | |
|---|---|---|
| 1-year return | +403.5% | -82.8% |
| 5-year return | -62.7% | n/a |
| Volatility (ann.) | 131.4% | 85.1% |
| Beta vs S&P 500 | 0.22 | 1.27 |
| Max drawdown (3Y) | -95.4% | -96.6% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANTX | ZBAO |
|---|---|---|
| 2023 | +115.0% | – |
| 2024 | -93.3% | – |
| 2025 | -17.4% | -42.6% |
| 2026 | +403.5% | -80.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANTX and ZBAO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANTX and ZBAO?
As of 2026-08-27, the correlation of weekly returns between ANTX and ZBAO is 0.37 over 3 years, 0.51 over 1 year and n/a over 5 years.
Is ZBAO a good diversifier for ANTX?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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.
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Related comparisons
Hubs: ANTX correlations · ZBAO correlations
