FOX vs ZSQR: Correlation
Fox Corporation (Class B) (FOX) and Z Squared Inc. (ZSQR) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOX and ZSQR?
Across a 3-year window, the weekly returns of FOX and ZSQR correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.33) runs below the 3-year figure (-0.22). Stretching to 5 years gives -0.15, with an annualized covariance of -623.1 %².
Among the 32 assets we track against FOX, ZSQR ranks #26 by 3-year correlation. The last year tells two different stories: FOX led by 80.4 percentage points, +12.2% for FOX against -68.2% for ZSQR. Note the risk asymmetry: ZSQR runs 3.5 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.
FOX vs ZSQR: side by side
| FOX (Fox Corporation (Class B)) | ZSQR (Z Squared Inc.) | |
|---|---|---|
| 1-year return | +12.2% | -68.2% |
| 5-year return | +88.7% | -97.9% |
| Volatility (ann.) | 28.5% | 98.5% |
| Beta vs S&P 500 | 0.58 | 0.28 |
| Max drawdown (3Y) | -34.1% | -89.7% |
| Market cap | $25.4B | $0.2B |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 0.90% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | FOX | ZSQR |
|---|---|---|
| 2022 | -15.8% | -84.7% |
| 2023 | -1.2% | -48.8% |
| 2024 | +68.3% | -64.9% |
| 2025 | +43.4% | +159.1% |
| 2026 | -6.5% | -70.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOX and ZSQR good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FOX and ZSQR?
As of 2026-08-27, the correlation of weekly returns between FOX and ZSQR is -0.22 over 3 years, -0.33 over 1 year and -0.15 over 5 years.
Is ZSQR a good diversifier for FOX?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
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.
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Related comparisons
Hubs: FOX correlations · ZSQR correlations
