FLZH vs PAYS: Correlation
How closely do Flash Sports & Media Holdings, Inc. (FLZH) and Paysign, Inc. (PAYS) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLZH and PAYS?
On 3 years of weekly data the FLZH/PAYS correlation comes out at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.74) runs above the 3-year figure (0.53). The 5-year figure is 0.45, and annualized covariance runs at 18191.7 %².
By 3-year correlation, PAYS places #4 of the 31 assets tracked against FLZH. Correlation aside, the last 12 months split them widely, with PAYS ahead by 248.4 points (-99.2% versus +149.2%). Risk is not evenly split, since FLZH carries 5.2 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.
FLZH vs PAYS: side by side
| FLZH (Flash Sports & Media Holdings, Inc.) | PAYS (Paysign, Inc.) | |
|---|---|---|
| 1-year return | -99.2% | +149.2% |
| 5-year return | -100.0% | +430.6% |
| Volatility (ann.) | 424.7% | 81.0% |
| Beta vs S&P 500 | -2.13 | 1.60 |
| Max drawdown (3Y) | -99.9% | -64.6% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 50.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLZH | PAYS |
|---|---|---|
| 2022 | -74.0% | +61.2% |
| 2023 | -48.5% | +8.5% |
| 2024 | -32.5% | +7.9% |
| 2025 | -70.4% | +70.5% |
| 2026 | -98.9% | +155.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLZH and PAYS good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLZH and PAYS?
The FLZH/PAYS correlation stands at 0.53 on a 3-year window (1 year: 0.74, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is PAYS a good diversifier for FLZH?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
A reading of 0.53 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-pays.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flzh-vs-pays/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLZH correlations · PAYS correlations
