ARKK vs CDZI: Correlation
Measured on weekly returns over the past three years, ARK Innovation ETF (ARKK) and Cadiz, Inc. (CDZI) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and CDZI?
Across a 3-year window, the weekly returns of ARKK and CDZI correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.33, with an annualized covariance of 1034.2 %².
Within ARKK's tracked universe of 122 assets, CDZI comes in at #91 by 3-year correlation. Over the last 12 months ARKK came out ahead by 7.8 percentage points (+15.7% against +7.9%). Risk is not evenly split, since CDZI carries 1.6 times the volatility of the other side.
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.
ARKK vs CDZI: side by side
| ARKK (ARK Innovation ETF) | CDZI (Cadiz, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | +7.9% |
| 5-year return | -27.7% | -70.6% |
| Volatility (ann.) | 38.8% | 61.2% |
| Beta vs S&P 500 | 2.07 | 1.31 |
| Max drawdown (3Y) | -39.6% | -56.9% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | CDZI |
|---|---|---|
| 2022 | -67.0% | -35.2% |
| 2023 | +69.0% | +12.0% |
| 2024 | +8.4% | +85.7% |
| 2025 | +35.5% | +7.9% |
| 2026 | +13.6% | -29.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and CDZI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ARKK and CDZI?
As of 2026-08-27, the correlation of weekly returns between ARKK and CDZI is 0.44 over 3 years, 0.52 over 1 year and 0.33 over 5 years.
Is CDZI a good diversifier for ARKK?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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/arkk-vs-cdzi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arkk-vs-cdzi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARKK correlations · CDZI correlations
