MNDY vs ZNB: Correlation
monday.com Ltd. (MNDY) and Zeta Network Group - Class A (ZNB) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MNDY and ZNB?
Across a 3-year window, the weekly returns of MNDY and ZNB correlate at 0.32, moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.32 over 3. Stretching to 5 years gives 0.26, with an annualized covariance of 3180.8 %².
ZNB is close to the least connected end of MNDY's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months MNDY outperformed by 54.6 percentage points (-45.3% for MNDY against -99.9% for ZNB). One caveat on sizing: ZNB is 2.8 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.
MNDY vs ZNB: side by side
| MNDY (monday.com Ltd.) | ZNB (Zeta Network Group - Class A) | |
|---|---|---|
| 1-year return | -45.3% | -99.9% |
| 5-year return | -74.0% | -100.0% |
| Volatility (ann.) | 59.2% | 165.3% |
| Beta vs S&P 500 | 1.96 | 2.26 |
| Max drawdown (3Y) | -82.1% | -100.0% |
| Market cap | $4.2B | – |
| P/E (trailing) | 42.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MNDY | ZNB |
|---|---|---|
| 2022 | -60.5% | -95.4% |
| 2023 | +53.9% | -59.3% |
| 2024 | +25.4% | -93.6% |
| 2025 | -37.3% | -99.0% |
| 2026 | -32.6% | -99.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNDY and ZNB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MNDY and ZNB?
The MNDY/ZNB correlation stands at 0.32 on a 3-year window (1 year: 0.37, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is ZNB a good diversifier for MNDY?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: MNDY correlations · ZNB correlations
