EXE vs ZOOZ: Correlation
Expand Energy (EXE) and ZOOZ Strategy Ltd. (ZOOZ) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXE and ZOOZ?
On 3 years of weekly data the EXE/ZOOZ correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.17 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -993.2 %².
Among the 32 assets we track against EXE, ZOOZ sits near the bottom by co-movement, at rank #30. Their recent paths diverged sharply: over the last 12 months EXE outperformed by 84.1 percentage points (+5.2% for EXE against -78.9% for ZOOZ). Note the risk asymmetry: ZOOZ runs 5.2 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.
EXE vs ZOOZ: side by side
| EXE (Expand Energy) | ZOOZ (ZOOZ Strategy Ltd.) | |
|---|---|---|
| 1-year return | +5.2% | -78.9% |
| 5-year return | +125.8% | n/a |
| Volatility (ann.) | 28.2% | 147.3% |
| Beta vs S&P 500 | 0.31 | 1.83 |
| Max drawdown (3Y) | -28.4% | -93.9% |
| Market cap | $22.7B | $0.1B |
| P/E (trailing) | 8.3 | – |
| Dividend yield | 3.30% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | EXE | ZOOZ |
|---|---|---|
| 2022 | +62.3% | – |
| 2023 | -14.8% | – |
| 2024 | +33.2% | – |
| 2025 | +14.4% | -82.1% |
| 2026 | -9.6% | -22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXE and ZOOZ good diversifiers for each other?
Yes. With a correlation of -0.24, EXE and ZOOZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXE and ZOOZ?
The EXE/ZOOZ correlation stands at -0.24 on a 3-year window (1 year: -0.17, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ZOOZ a good diversifier for EXE?
Yes. With a correlation of -0.24, EXE and ZOOZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/exe-vs-zooz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exe-vs-zooz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXE correlations · ZOOZ correlations
