NAUT vs ZION: Correlation
Measured on weekly returns over the past three years, Nautilus Biotechnology, Inc. (NAUT) and Zions Bancorporation N.A. (ZION) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAUT and ZION?
Over the past 3 years, NAUT and ZION moved with a correlation of 0.42, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.05 versus 0.42 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 1071.7 %².
Few assets follow NAUT as closely as ZION, which ranks #3 of 10 tracked partners. The trailing year gives NAUT the advantage: +28.6% versus +20.7%, a 7.9-point spread. Note the risk asymmetry: NAUT runs 2.0 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.
NAUT vs ZION: side by side
| NAUT (Nautilus Biotechnology, Inc.) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | +28.6% | +20.7% |
| 5-year return | -88.5% | +41.1% |
| Volatility (ann.) | 72.5% | 35.5% |
| Beta vs S&P 500 | 1.36 | 1.29 |
| Max drawdown (3Y) | -83.8% | -32.4% |
| Market cap | $0.1B | $9.9B |
| P/E (trailing) | – | 8.7 |
| Dividend yield | 0.00% | 2.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAUT | ZION |
|---|---|---|
| 2022 | -65.3% | -20.0% |
| 2023 | +66.1% | -6.3% |
| 2024 | -43.8% | +28.2% |
| 2025 | +16.1% | +11.6% |
| 2026 | -53.6% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAUT and ZION good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NAUT and ZION?
As of 2026-08-27, the correlation of weekly returns between NAUT and ZION is 0.42 over 3 years, 0.05 over 1 year and 0.26 over 5 years.
Is ZION a good diversifier for NAUT?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/naut-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/naut-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NAUT correlations · ZION correlations
