FRSH vs Z: Correlation
Freshworks Inc. (FRSH) and Zillow Group, Inc. - Class C Capital Stock (Z) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRSH and Z?
On 3 years of weekly data the FRSH/Z correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1233.2 %².
By 3-year correlation, Z places #11 of the 28 assets tracked against FRSH. The last year tells two different stories: FRSH led by 58.5 percentage points, +0.6% for FRSH against -57.9% for Z.
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.
FRSH vs Z: side by side
| FRSH (Freshworks Inc.) | Z (Zillow Group, Inc. - Class C Capital Stock) | |
|---|---|---|
| 1-year return | +0.6% | -57.9% |
| 5-year return | -71.2% | -63.1% |
| Volatility (ann.) | 48.9% | 46.2% |
| Beta vs S&P 500 | 1.46 | 1.30 |
| Max drawdown (3Y) | -71.9% | -67.4% |
| Market cap | $3.6B | $8.0B |
| P/E (trailing) | 20.4 | 154.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRSH | Z |
|---|---|---|
| 2022 | -44.0% | -49.6% |
| 2023 | +59.7% | +79.6% |
| 2024 | -31.2% | +28.0% |
| 2025 | -24.2% | -7.9% |
| 2026 | +11.8% | -48.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and Z good diversifiers for each other?
Only partially. A correlation of 0.55 means FRSH and Z share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FRSH and Z?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.62 over the last year and 0.56 over 5 years.
Is Z a good diversifier for FRSH?
Only partially. A correlation of 0.55 means FRSH and Z share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frsh-vs-z.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/frsh-vs-z/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRSH correlations · Z correlations
