CCZ vs MSGM: Correlation
How closely do Comcast Holdings ZONES (CCZ) and Motorsport Games Inc. (MSGM) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCZ and MSGM?
Over the past 3 years, CCZ and MSGM moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.29 over 3 years. Over 5 years the correlation is 0.02, and the annualized covariance of weekly returns is -1004.6 %².
Among the 10 assets we track against CCZ, MSGM sits near the bottom by co-movement, at rank #9. The last year tells two different stories: MSGM led by 21.6 percentage points, +12.4% for CCZ against +34.0% for MSGM. Risk is not evenly split, since MSGM carries 7.3 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.
CCZ vs MSGM: side by side
| CCZ (Comcast Holdings ZONES) | MSGM (Motorsport Games Inc.) | |
|---|---|---|
| 1-year return | +12.4% | +34.0% |
| 5-year return | +24.7% | -96.2% |
| Volatility (ann.) | 21.9% | 159.9% |
| Beta vs S&P 500 | 0.35 | -0.11 |
| Max drawdown (3Y) | -16.3% | -81.5% |
| Market cap | – | – |
| P/E (trailing) | – | 13.4 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCZ | MSGM |
|---|---|---|
| 2022 | -8.9% | -87.8% |
| 2023 | +3.8% | -25.5% |
| 2024 | +10.6% | -56.6% |
| 2025 | +1.3% | +136.6% |
| 2026 | +12.3% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCZ and MSGM good diversifiers for each other?
Yes. With a correlation of -0.29, CCZ and MSGM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCZ and MSGM?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.02 over the last year and 0.02 over 5 years.
Is MSGM a good diversifier for CCZ?
Yes. With a correlation of -0.29, CCZ and MSGM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: CCZ correlations · MSGM correlations
