BZAI vs FLZH: Correlation
How closely do Blaize Holdings, Inc. (BZAI) and Flash Sports & Media Holdings, Inc. (FLZH) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZAI and FLZH?
Over the past 3 years, BZAI and FLZH moved with a correlation of 0.42, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.55 versus 0.42 over 3 years. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 17479.9 %².
FLZH is one of the assets that tracks BZAI most closely: it ranks #2 out of the 16 assets we track against BZAI. Over the last 12 months BZAI came out ahead by 11.9 percentage points (-87.3% against -99.2%). One caveat on sizing: FLZH is 4.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BZAI vs FLZH: side by side
| BZAI (Blaize Holdings, Inc.) | FLZH (Flash Sports & Media Holdings, Inc.) | |
|---|---|---|
| 1-year return | -87.3% | -99.2% |
| 5-year return | -94.8% | -100.0% |
| Volatility (ann.) | 97.0% | 424.7% |
| Beta vs S&P 500 | 0.55 | -2.13 |
| Max drawdown (3Y) | -97.0% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BZAI | FLZH |
|---|---|---|
| 2022 | – | -74.0% |
| 2023 | +5.6% | -48.5% |
| 2024 | +39.8% | -32.5% |
| 2025 | -87.0% | -70.4% |
| 2026 | -73.8% | -98.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZAI and FLZH good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BZAI and FLZH?
As of 2026-08-27, the correlation of weekly returns between BZAI and FLZH is 0.42 over 3 years, 0.55 over 1 year and 0.42 over 5 years.
Is FLZH a good diversifier for BZAI?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BZAI correlations · FLZH correlations
