ASG vs ZBRA: Correlation
Liberty All-Star Growth Fund, Inc. (ASG) and Zebra Technologies (ZBRA) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and ZBRA?
Across a 3-year window, the weekly returns of ASG and ZBRA correlate at 0.56, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.56 over 3. Stretching to 5 years gives 0.61, with an annualized covariance of 420.6 %².
Within ASG's tracked universe of 52 assets, ZBRA comes in at #30 by 3-year correlation. Over the last 12 months ZBRA came out ahead by 9.0 percentage points (+3.3% against +12.3%). Risk is not evenly split, since ZBRA carries 2.2 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.
ASG vs ZBRA: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +3.3% | +12.3% |
| 5-year return | -5.6% | -38.2% |
| Volatility (ann.) | 18.3% | 40.8% |
| Beta vs S&P 500 | 1.12 | 1.54 |
| Max drawdown (3Y) | -25.3% | -52.7% |
| Market cap | $0.3B | $17.1B |
| P/E (trailing) | 23.9 | 33.0 |
| Dividend yield | 8.76% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ASG | ZBRA |
|---|---|---|
| 2022 | -40.9% | -56.9% |
| 2023 | +16.2% | +6.6% |
| 2024 | +16.8% | +41.3% |
| 2025 | +2.2% | -37.1% |
| 2026 | +6.0% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and ZBRA good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASG and ZBRA?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.47 over the last year and 0.61 over 5 years.
Is ZBRA a good diversifier for ASG?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/asg-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asg-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASG correlations · ZBRA correlations
