BZ vs VWO: Correlation
How closely do KANZHUN LIMITED - American Depository Shares (BZ) and Vanguard FTSE Emerging Markets ETF (VWO) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZ and VWO?
Across a 3-year window, the weekly returns of BZ and VWO correlate at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.57 over 3 years. Stretching to 5 years gives 0.63, with an annualized covariance of 426.0 %².
By 3-year correlation, VWO places #4 of the 17 assets tracked against BZ. The last year tells two different stories: VWO led by 42.3 percentage points, -20.7% for BZ against +21.6% for VWO. Note the risk asymmetry: BZ runs 3.2 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 VWO: side by side
| BZ (KANZHUN LIMITED - American Depository Shares) | VWO (Vanguard FTSE Emerging Markets ETF) | |
|---|---|---|
| 1-year return | -20.7% | +21.6% |
| 5-year return | -47.9% | +38.2% |
| Volatility (ann.) | 49.3% | 15.2% |
| Beta vs S&P 500 | 1.20 | 0.75 |
| Max drawdown (3Y) | -51.6% | -17.4% |
| Market cap | $8.0B | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 0.00% | 2.36% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $162.0B |
| Sector / category | US Listed | ETF · International |
On the fund side, VWO sits in the Diversified Emerging Mkts category at Vanguard, with $162.0B under management, 4113 holdings, a 0.06% expense ratio, a 2.36% trailing dividend yield.
Year-by-year returns
| Year | BZ | VWO |
|---|---|---|
| 2022 | -41.6% | -18.0% |
| 2023 | -17.5% | +9.3% |
| 2024 | -16.9% | +10.6% |
| 2025 | +48.7% | +25.6% |
| 2026 | -11.7% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.06% of VWO is BZ itself, so the fund partly moves with the stock by construction.
Are BZ and VWO good diversifiers for each other?
To a limited degree. At 0.57 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 BZ and VWO?
As of 2026-08-27, the correlation of weekly returns between BZ and VWO is 0.57 over 3 years, 0.32 over 1 year and 0.63 over 5 years.
Is VWO a good diversifier for BZ?
To a limited degree. At 0.57 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 0.57 mean?
A reading of 0.57 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/bz-vs-vwo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bz-vs-vwo/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BZ correlations · VWO correlations
