HSY vs ZSQR: Correlation
How closely do Hershey Company (The) (HSY) and Z Squared Inc. (ZSQR) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HSY and ZSQR?
Over the past 3 years, HSY and ZSQR moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -602.3 %².
Among the 30 assets we track against HSY, ZSQR sits near the bottom by co-movement, at rank #28. Correlation aside, the last 12 months split them widely, with HSY ahead by 71.0 points (+2.8% versus -68.2%). Risk is not evenly split, since ZSQR carries 3.8 times the volatility of the other side.
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.
HSY vs ZSQR: side by side
| HSY (Hershey Company (The)) | ZSQR (Z Squared Inc.) | |
|---|---|---|
| 1-year return | +2.8% | -68.2% |
| 5-year return | +16.5% | -97.9% |
| Volatility (ann.) | 25.6% | 98.5% |
| Beta vs S&P 500 | 0.03 | 0.28 |
| Max drawdown (3Y) | -31.2% | -89.7% |
| Market cap | $36.4B | $0.2B |
| P/E (trailing) | 25.3 | – |
| Dividend yield | 3.05% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | HSY | ZSQR |
|---|---|---|
| 2022 | +21.9% | -84.7% |
| 2023 | -17.9% | -48.8% |
| 2024 | -6.5% | -64.9% |
| 2025 | +11.0% | +159.1% |
| 2026 | +1.9% | -70.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HSY and ZSQR good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HSY and ZSQR?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.28 over the last year and -0.12 over 5 years.
Is ZSQR a good diversifier for HSY?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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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Hubs: HSY correlations · ZSQR correlations
