FLZH vs IRIX: Correlation
Measured on weekly returns over the past three years, Flash Sports & Media Holdings, Inc. (FLZH) and IRIDEX Corporation (IRIX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLZH and IRIX?
Across a 3-year window, the weekly returns of FLZH and IRIX correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.22 over 3 years. Stretching to 5 years gives -0.15, with an annualized covariance of -5770.6 %².
Among the 31 assets we track against FLZH, IRIX ranks #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IRIX ahead by 54.0 points (-99.2% versus -45.2%). Note the risk asymmetry: FLZH runs 7.0 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.
FLZH vs IRIX: side by side
| FLZH (Flash Sports & Media Holdings, Inc.) | IRIX (IRIDEX Corporation) | |
|---|---|---|
| 1-year return | -99.2% | -45.2% |
| 5-year return | -100.0% | -90.8% |
| Volatility (ann.) | 424.7% | 60.9% |
| Beta vs S&P 500 | -2.13 | 0.50 |
| Max drawdown (3Y) | -99.9% | -79.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLZH | IRIX |
|---|---|---|
| 2022 | -74.0% | -67.1% |
| 2023 | -48.5% | +39.8% |
| 2024 | -32.5% | -40.2% |
| 2025 | -70.4% | -32.1% |
| 2026 | -98.9% | -37.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLZH and IRIX good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLZH and IRIX?
The FLZH/IRIX correlation stands at -0.22 on a 3-year window (1 year: -0.44, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is IRIX a good diversifier for FLZH?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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/flzh-vs-irix.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flzh-vs-irix/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLZH correlations · IRIX correlations
