DLTH vs PARA: Correlation
Duluth Holdings Inc. (DLTH) and Banzai International, Inc. (PARA) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLTH and PARA?
Over the past 3 years, DLTH and PARA moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.31 versus -0.17 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -1376.7 %².
PARA is close to the least connected end of DLTH's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months DLTH outperformed by 160.5 percentage points (+62.3% for DLTH against -98.2% for PARA). Risk is not evenly split, since PARA carries 1.6 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.
DLTH vs PARA: side by side
| DLTH (Duluth Holdings Inc.) | PARA (Banzai International, Inc.) | |
|---|---|---|
| 1-year return | +62.3% | -98.2% |
| 5-year return | -76.9% | -100.0% |
| Volatility (ann.) | 69.4% | 114.5% |
| Beta vs S&P 500 | 0.64 | -0.02 |
| Max drawdown (3Y) | -77.4% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 0.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DLTH | PARA |
|---|---|---|
| 2022 | -59.3% | +3.7% |
| 2023 | -12.9% | -81.4% |
| 2024 | -42.6% | -98.4% |
| 2025 | -32.7% | -93.7% |
| 2026 | +77.9% | -93.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLTH and PARA good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DLTH and PARA?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.31 over the last year and -0.16 over 5 years.
Is PARA a good diversifier for DLTH?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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/dlth-vs-para.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dlth-vs-para/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DLTH correlations · PARA correlations
