FENC vs ZBRA: Correlation
How closely do Fennec Pharmaceuticals Inc. (FENC) and Zebra Technologies (ZBRA) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FENC and ZBRA?
On 3 years of weekly data the FENC/ZBRA correlation comes out at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.41 over 3 years. The 5-year figure is 0.26, and annualized covariance runs at 965.4 %².
By 3-year correlation, ZBRA places #5 of the 14 assets tracked against FENC. Their recent paths diverged sharply: over the last 12 months FENC outperformed by 17.9 percentage points (+30.2% for FENC against +12.3% for ZBRA).
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.
FENC vs ZBRA: side by side
| FENC (Fennec Pharmaceuticals Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +30.2% | +12.3% |
| 5-year return | +49.7% | -38.2% |
| Volatility (ann.) | 58.3% | 40.8% |
| Beta vs S&P 500 | 1.41 | 1.54 |
| Max drawdown (3Y) | -65.6% | -52.7% |
| Market cap | $0.4B | $17.1B |
| P/E (trailing) | – | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FENC | ZBRA |
|---|---|---|
| 2022 | +118.2% | -56.9% |
| 2023 | +16.9% | +6.6% |
| 2024 | -43.7% | +41.3% |
| 2025 | +21.8% | -37.1% |
| 2026 | +52.9% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FENC and ZBRA good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FENC and ZBRA?
As of 2026-08-27, the correlation of weekly returns between FENC and ZBRA is 0.41 over 3 years, 0.52 over 1 year and 0.26 over 5 years.
Is ZBRA a good diversifier for FENC?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/fenc-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fenc-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FENC correlations · ZBRA correlations
