GOOS vs ZGN: Correlation
Measured on weekly returns over the past three years, Canada Goose Holdings Inc. Subordinate Voting Shares (GOOS) and Ermenegildo Zegna N.V. (ZGN) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOS and ZGN?
Over the past 3 years, GOOS and ZGN moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 946.3 %².
Few assets follow GOOS as closely as ZGN, which ranks #1 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with ZGN ahead by 108.8 points (-42.7% versus +66.1%).
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.
GOOS vs ZGN: side by side
| GOOS (Canada Goose Holdings Inc. Subordinate Voting Shares) | ZGN (Ermenegildo Zegna N.V.) | |
|---|---|---|
| 1-year return | -42.7% | +66.1% |
| 5-year return | -79.0% | +34.1% |
| Volatility (ann.) | 46.5% | 43.6% |
| Beta vs S&P 500 | 0.88 | 1.27 |
| Max drawdown (3Y) | -57.7% | -59.0% |
| Market cap | $0.8B | $3.7B |
| P/E (trailing) | 18.8 | 31.0 |
| Dividend yield | 0.00% | 0.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GOOS | ZGN |
|---|---|---|
| 2022 | -51.9% | +0.8% |
| 2023 | -33.5% | +11.5% |
| 2024 | -15.4% | -27.8% |
| 2025 | +29.1% | +26.0% |
| 2026 | -37.5% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOS and ZGN good diversifiers for each other?
Reasonably. At 0.47, GOOS and ZGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between GOOS and ZGN?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.41 over the last year and 0.44 over 5 years.
Is ZGN a good diversifier for GOOS?
Reasonably. At 0.47, GOOS and ZGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/goos-vs-zgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/goos-vs-zgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GOOS correlations · ZGN correlations
