MATX vs ZIM: Correlation
Matson, Inc. (MATX) and ZIM Integrated Shipping Services Ltd. (ZIM) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MATX and ZIM?
Over the past 3 years, MATX and ZIM moved with a correlation of 0.41, which is moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.41). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 1040.6 %².
Within MATX's tracked universe of 13 assets, ZIM comes in at #7 by 3-year correlation. The trailing year gives MATX the advantage: +112.8% versus +103.1%, a 9.7-point spread. Note the risk asymmetry: ZIM runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MATX vs ZIM: side by side
| MATX (Matson, Inc.) | ZIM (ZIM Integrated Shipping Services Ltd.) | |
|---|---|---|
| 1-year return | +112.8% | +103.1% |
| 5-year return | +195.6% | +125.1% |
| Volatility (ann.) | 34.6% | 73.9% |
| Beta vs S&P 500 | 0.80 | 1.32 |
| Max drawdown (3Y) | -46.9% | -46.2% |
| Market cap | $6.6B | $3.4B |
| P/E (trailing) | 14.9 | 24.1 |
| Dividend yield | 0.65% | 4.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MATX | ZIM |
|---|---|---|
| 2022 | -29.5% | -52.7% |
| 2023 | +78.2% | -21.1% |
| 2024 | +24.3% | +176.9% |
| 2025 | -7.2% | +25.6% |
| 2026 | +80.8% | +35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MATX and ZIM good diversifiers for each other?
Reasonably. At 0.41, MATX and ZIM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MATX and ZIM?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.26 over the last year and 0.42 over 5 years.
Is ZIM a good diversifier for MATX?
Reasonably. At 0.41, MATX and ZIM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/matx-vs-zim.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/matx-vs-zim/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MATX correlations · ZIM correlations
