BZ vs FXI: Correlation
KANZHUN LIMITED - American Depository Shares (BZ) and iShares China Large-Cap ETF (FXI) show a strong relationship: their 3-year correlation of weekly returns is 0.72.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZ and FXI?
Over the past 3 years, BZ and FXI moved with a correlation of 0.72, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.72 over 3 years. Over 5 years the correlation is 0.77, and the annualized covariance of weekly returns is 894.2 %².
FXI is one of the assets that tracks BZ most closely: it ranks #2 out of the 17 assets we track against BZ. Over the last 12 months FXI came out ahead by 14.6 percentage points (-20.7% against -6.1%). Note the risk asymmetry: BZ runs 1.9 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.
BZ vs FXI: side by side
| BZ (KANZHUN LIMITED - American Depository Shares) | FXI (iShares China Large-Cap ETF) | |
|---|---|---|
| 1-year return | -20.7% | -6.1% |
| 5-year return | -47.9% | -1.4% |
| Volatility (ann.) | 49.3% | 25.3% |
| Beta vs S&P 500 | 1.20 | 0.68 |
| Max drawdown (3Y) | -51.6% | -23.2% |
| Market cap | $8.0B | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 0.00% | 1.87% |
| Expense ratio | – | 0.73% |
| Assets under management | – | $4.3B |
| Sector / category | US Listed | ETF · International |
FXI, iShares's Greater China Region fund, carries $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield.
Year-by-year returns
| Year | BZ | FXI |
|---|---|---|
| 2022 | -41.6% | -20.7% |
| 2023 | -17.5% | -12.4% |
| 2024 | -16.9% | +29.0% |
| 2025 | +48.7% | +28.9% |
| 2026 | -11.7% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZ and FXI good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BZ and FXI?
Using weekly returns as of 2026-08-27: 0.72 over 3 years, with 0.52 over the last year and 0.77 over 5 years.
Is FXI a good diversifier for BZ?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
On the −1 to +1 scale, 0.72 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/bz-vs-fxi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bz-vs-fxi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BZ correlations · FXI correlations
