ECHO vs FIZZ: Correlation
How closely do EchoStar (ECHO) and National Beverage Corp. (FIZZ) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and FIZZ?
Across a 3-year window, the weekly returns of ECHO and FIZZ correlate at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.10 versus -0.17 over 3 years. Stretching to 5 years gives -0.05, with an annualized covariance of -385.3 %².
By 3-year correlation, FIZZ places #30 of the 35 assets tracked against ECHO. The last year tells two different stories: ECHO led by 62.2 percentage points, +47.2% for ECHO against -15.0% for FIZZ. Note the risk asymmetry: ECHO runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ECHO vs FIZZ: side by side
| ECHO (EchoStar) | FIZZ (National Beverage Corp.) | |
|---|---|---|
| 1-year return | +47.2% | -15.0% |
| 5-year return | +227.3% | -9.3% |
| Volatility (ann.) | 91.1% | 24.4% |
| Beta vs S&P 500 | 1.17 | 0.36 |
| Max drawdown (3Y) | -50.1% | -41.3% |
| Market cap | $25.1B | $3.0B |
| P/E (trailing) | – | 16.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | ECHO | FIZZ |
|---|---|---|
| 2022 | -36.7% | +2.6% |
| 2023 | -0.7% | +6.9% |
| 2024 | +38.2% | -8.0% |
| 2025 | +374.7% | -25.3% |
| 2026 | -20.5% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECHO and FIZZ good diversifiers for each other?
Yes. With a correlation of -0.17, ECHO and FIZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ECHO and FIZZ?
The ECHO/FIZZ correlation stands at -0.17 on a 3-year window (1 year: 0.10, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is FIZZ a good diversifier for ECHO?
Yes. With a correlation of -0.17, ECHO and FIZZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/echo-vs-fizz.json
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Related comparisons
Hubs: ECHO correlations · FIZZ correlations
