BZAI vs PBF: Correlation
Blaize Holdings, Inc. (BZAI) and PBF Energy Inc. (PBF) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZAI and PBF?
Over the past 3 years, BZAI and PBF moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.34 versus -0.23 over 3 years. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1305.1 %².
Among the 16 assets we track against BZAI, PBF sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with PBF ahead by 254.3 points (-87.3% versus +167.0%). One caveat on sizing: BZAI is 1.7 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 PBF: side by side
| BZAI (Blaize Holdings, Inc.) | PBF (PBF Energy Inc.) | |
|---|---|---|
| 1-year return | -87.3% | +167.0% |
| 5-year return | -94.8% | +642.1% |
| Volatility (ann.) | 97.0% | 58.6% |
| Beta vs S&P 500 | 0.55 | 0.47 |
| Max drawdown (3Y) | -97.0% | -76.0% |
| Market cap | $0.1B | $8.1B |
| P/E (trailing) | – | 6.1 |
| Dividend yield | 0.00% | 1.58% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BZAI | PBF |
|---|---|---|
| 2022 | – | +215.8% |
| 2023 | +5.6% | +10.0% |
| 2024 | +39.8% | -38.0% |
| 2025 | -87.0% | +6.8% |
| 2026 | -73.8% | +157.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZAI and PBF good diversifiers for each other?
Yes. With a correlation of -0.23, BZAI and PBF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BZAI and PBF?
The BZAI/PBF correlation stands at -0.23 on a 3-year window (1 year: -0.34, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is PBF a good diversifier for BZAI?
Yes. With a correlation of -0.23, BZAI and PBF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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
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Hubs: BZAI correlations · PBF correlations
