FSTR vs ZTEK: Correlation
L.B. Foster Company (FSTR) and Zentek Ltd. (ZTEK) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSTR and ZTEK?
Over the past 3 years, FSTR and ZTEK moved with a correlation of 0.39, which is moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.39). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 1466.2 %².
Within FSTR's tracked universe of 16 assets, ZTEK comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FSTR outperformed by 60.4 percentage points (+42.8% for FSTR against -17.6% for ZTEK). One caveat on sizing: ZTEK is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FSTR vs ZTEK: side by side
| FSTR (L.B. Foster Company) | ZTEK (Zentek Ltd.) | |
|---|---|---|
| 1-year return | +42.8% | -17.6% |
| 5-year return | +119.1% | -78.0% |
| Volatility (ann.) | 46.4% | 80.4% |
| Beta vs S&P 500 | 1.23 | 0.63 |
| Max drawdown (3Y) | -45.9% | -79.2% |
| Market cap | $0.4B | $0.1B |
| P/E (trailing) | 35.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSTR | ZTEK |
|---|---|---|
| 2022 | -29.6% | -60.1% |
| 2023 | +127.2% | -30.3% |
| 2024 | +22.3% | -13.0% |
| 2025 | +0.2% | -31.9% |
| 2026 | +40.4% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSTR and ZTEK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FSTR and ZTEK?
The FSTR/ZTEK correlation stands at 0.39 on a 3-year window (1 year: 0.52, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is ZTEK a good diversifier for FSTR?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/fstr-vs-ztek.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fstr-vs-ztek/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSTR correlations · ZTEK correlations
