LGO vs PZZA: Correlation
Largo Inc. (LGO) and Papa John's International, Inc. (PZZA) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LGO and PZZA?
On 3 years of weekly data the LGO/PZZA correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.16). The 5-year figure is -0.11, and annualized covariance runs at -554.9 %².
Out of 14 assets tracked against LGO, PZZA lands near the bottom at #13. Twelve-month performance is nearly a tie, at -51.2% for LGO and -50.3% for PZZA. One caveat on sizing: LGO is 1.5 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.
LGO vs PZZA: side by side
| LGO (Largo Inc.) | PZZA (Papa John's International, Inc.) | |
|---|---|---|
| 1-year return | -51.2% | -50.3% |
| 5-year return | -94.6% | -78.5% |
| Volatility (ann.) | 72.9% | 48.3% |
| Beta vs S&P 500 | 0.94 | 0.83 |
| Max drawdown (3Y) | -83.8% | -66.8% |
| Market cap | $0.1B | $0.8B |
| P/E (trailing) | – | 29.0 |
| Dividend yield | 0.00% | 7.79% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LGO | PZZA |
|---|---|---|
| 2022 | -41.9% | -37.3% |
| 2023 | -57.1% | -5.3% |
| 2024 | -25.5% | -44.2% |
| 2025 | -45.3% | -2.0% |
| 2026 | -22.2% | -38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LGO and PZZA good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LGO and PZZA?
As of 2026-08-27, the correlation of weekly returns between LGO and PZZA is -0.16 over 3 years, -0.42 over 1 year and -0.11 over 5 years.
Is PZZA a good diversifier for LGO?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/lgo-vs-pzza.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lgo-vs-pzza/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LGO correlations · PZZA correlations
