JRVR vs ZTEK: Correlation
How closely do James River Group Holdings, Inc. (JRVR) and Zentek Ltd. (ZTEK) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRVR and ZTEK?
On 3 years of weekly data the JRVR/ZTEK correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.21). The 5-year figure is -0.15, and annualized covariance runs at -877.1 %².
ZTEK is close to the least connected end of JRVR's tracked universe, ranking #8 of 12. The trailing year gives ZTEK the advantage: -26.4% versus -17.6%, a 8.8-point spread. One caveat on sizing: ZTEK is 1.6 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.
JRVR vs ZTEK: side by side
| JRVR (James River Group Holdings, Inc.) | ZTEK (Zentek Ltd.) | |
|---|---|---|
| 1-year return | -26.4% | -17.6% |
| 5-year return | -88.2% | -78.0% |
| Volatility (ann.) | 51.3% | 80.4% |
| Beta vs S&P 500 | 0.55 | 0.63 |
| Max drawdown (3Y) | -77.1% | -79.2% |
| Market cap | $0.2B | $0.1B |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JRVR | ZTEK |
|---|---|---|
| 2022 | -26.8% | -60.1% |
| 2023 | -55.2% | -30.3% |
| 2024 | -46.2% | -13.0% |
| 2025 | +31.6% | -31.9% |
| 2026 | -35.0% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRVR and ZTEK good diversifiers for each other?
Yes. With a correlation of -0.21, JRVR and ZTEK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JRVR and ZTEK?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.41 over the last year and -0.15 over 5 years.
Is ZTEK a good diversifier for JRVR?
Yes. With a correlation of -0.21, JRVR and ZTEK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/jrvr-vs-ztek.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/jrvr-vs-ztek/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: JRVR correlations · ZTEK correlations
