APLD vs ZONE: Correlation
Applied Digital Corporation (APLD) and CleanCore Solutions Inc. (ZONE) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APLD and ZONE?
Over the past 3 years, APLD and ZONE moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.41 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 7506.4 %².
Within APLD's tracked universe of 15 assets, ZONE comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with APLD ahead by 162.0 points (+64.3% versus -97.7%).
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.
APLD vs ZONE: side by side
| APLD (Applied Digital Corporation) | ZONE (CleanCore Solutions Inc.) | |
|---|---|---|
| 1-year return | +64.3% | -97.7% |
| 5-year return | +465.8% | n/a |
| Volatility (ann.) | 117.7% | 149.2% |
| Beta vs S&P 500 | 2.73 | 0.94 |
| Max drawdown (3Y) | -71.9% | -97.9% |
| Market cap | $7.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APLD | ZONE |
|---|---|---|
| 2023 | +266.3% | – |
| 2024 | +13.4% | – |
| 2025 | +220.9% | -79.8% |
| 2026 | +11.9% | -43.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APLD and ZONE good diversifiers for each other?
Reasonably. At 0.41, APLD and ZONE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APLD and ZONE?
The APLD/ZONE correlation stands at 0.41 on a 3-year window (1 year: 0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ZONE a good diversifier for APLD?
Reasonably. At 0.41, APLD and ZONE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
A reading of 0.41 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/apld-vs-zone.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/apld-vs-zone/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APLD correlations · ZONE correlations
