HKIT vs ZDGE: Correlation
Measured on weekly returns over the past three years, Hitek Global Inc. - Class A (HKIT) and Zedge, Inc. (ZDGE) 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 HKIT and ZDGE?
Across a 3-year window, the weekly returns of HKIT and ZDGE correlate at 0.47, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.47 over 3. Stretching to 5 years gives n/a, with an annualized covariance of 8389.0 %².
ZDGE is one of the assets that tracks HKIT most closely: it ranks #3 out of the 14 assets we track against HKIT. Correlation aside, the last 12 months split them widely, with ZDGE ahead by 96.9 points (-99.9% versus -3.0%). One caveat on sizing: HKIT is 3.0 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.
HKIT vs ZDGE: side by side
| HKIT (Hitek Global Inc. - Class A) | ZDGE (Zedge, Inc.) | |
|---|---|---|
| 1-year return | -99.9% | -3.0% |
| 5-year return | n/a | -81.5% |
| Volatility (ann.) | 233.1% | 76.8% |
| Beta vs S&P 500 | 1.70 | 0.91 |
| Max drawdown (3Y) | -100.0% | -61.2% |
| Market cap | – | – |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HKIT | ZDGE |
|---|---|---|
| 2022 | – | -79.3% |
| 2023 | – | +33.5% |
| 2024 | +36.2% | +14.5% |
| 2025 | +55.9% | +22.5% |
| 2026 | -100.0% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HKIT and ZDGE good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HKIT and ZDGE?
The HKIT/ZDGE correlation stands at 0.47 on a 3-year window (1 year: 0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ZDGE a good diversifier for HKIT?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/hkit-vs-zdge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hkit-vs-zdge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HKIT correlations · ZDGE correlations
