DSGR vs ZBAO: Correlation
Measured on weekly returns over the past three years, Distribution Solutions Group, Inc. (DSGR) and Zhibao Technology Inc. - Class A (ZBAO) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSGR and ZBAO?
Across a 3-year window, the weekly returns of DSGR and ZBAO correlate at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.29 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -1088.4 %².
Among the 15 assets we track against DSGR, ZBAO sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months DSGR outperformed by 89.1 percentage points (+6.3% for DSGR against -82.8% for ZBAO). Risk is not evenly split, since ZBAO carries 1.9 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.
DSGR vs ZBAO: side by side
| DSGR (Distribution Solutions Group, Inc.) | ZBAO (Zhibao Technology Inc. - Class A) | |
|---|---|---|
| 1-year return | +6.3% | -82.8% |
| 5-year return | +32.4% | n/a |
| Volatility (ann.) | 45.6% | 85.1% |
| Beta vs S&P 500 | 0.72 | 1.27 |
| Max drawdown (3Y) | -52.7% | -96.6% |
| Market cap | $1.6B | – |
| P/E (trailing) | 183.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSGR | ZBAO |
|---|---|---|
| 2022 | -32.7% | – |
| 2023 | +71.2% | – |
| 2024 | +9.0% | – |
| 2025 | -20.4% | -42.6% |
| 2026 | +27.2% | -80.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSGR and ZBAO good diversifiers for each other?
Yes. With a correlation of -0.29, DSGR and ZBAO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DSGR and ZBAO?
As of 2026-08-27, the correlation of weekly returns between DSGR and ZBAO is -0.29 over 3 years, -0.46 over 1 year and n/a over 5 years.
Is ZBAO a good diversifier for DSGR?
Yes. With a correlation of -0.29, DSGR and ZBAO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: DSGR correlations · ZBAO correlations
