JAZZ vs ZYME: Correlation
How closely do Jazz Pharmaceuticals plc (JAZZ) and Zymeworks Inc. (ZYME) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JAZZ and ZYME?
Across a 3-year window, the weekly returns of JAZZ and ZYME correlate at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 845.0 %².
ZYME is one of the assets that tracks JAZZ most closely: it ranks #1 out of the 14 assets we track against JAZZ. The trailing year gives JAZZ the advantage: +101.8% versus +94.3%, a 7.5-point spread.
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.
JAZZ vs ZYME: side by side
| JAZZ (Jazz Pharmaceuticals plc) | ZYME (Zymeworks Inc.) | |
|---|---|---|
| 1-year return | +101.8% | +94.3% |
| 5-year return | +90.9% | -10.9% |
| Volatility (ann.) | 34.6% | 49.4% |
| Beta vs S&P 500 | 0.60 | 1.02 |
| Max drawdown (3Y) | -32.7% | -45.7% |
| Market cap | $16.3B | $2.1B |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JAZZ | ZYME |
|---|---|---|
| 2022 | +25.0% | -52.0% |
| 2023 | -22.8% | +32.2% |
| 2024 | +0.1% | +40.9% |
| 2025 | +38.0% | +79.8% |
| 2026 | +47.7% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JAZZ and ZYME good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between JAZZ and ZYME?
The JAZZ/ZYME correlation stands at 0.49 on a 3-year window (1 year: 0.52, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is ZYME a good diversifier for JAZZ?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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.
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Related comparisons
Hubs: JAZZ correlations · ZYME correlations
