OZK vs ZION: Correlation
Measured on weekly returns over the past three years, Bank OZK (OZK) and Zions Bancorporation N.A. (ZION) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OZK and ZION?
On 3 years of weekly data the OZK/ZION correlation comes out at 0.83, very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.84 lands near the 3-year figure. The 5-year figure is 0.76, and annualized covariance runs at 967.3 %².
By 3-year correlation, ZION places #4 of the 13 assets tracked against OZK. Correlation aside, the last 12 months split them widely, with ZION ahead by 24.1 points (-3.4% versus +20.7%).
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.
OZK vs ZION: side by side
| OZK (Bank OZK) | ZION (Zions Bancorporation N.A.) | |
|---|---|---|
| 1-year return | -3.4% | +20.7% |
| 5-year return | +40.0% | +41.1% |
| Volatility (ann.) | 32.8% | 35.5% |
| Beta vs S&P 500 | 0.99 | 1.29 |
| Max drawdown (3Y) | -29.2% | -32.4% |
| Market cap | $5.4B | $9.9B |
| P/E (trailing) | 8.2 | 8.7 |
| Dividend yield | 3.68% | 2.63% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OZK | ZION |
|---|---|---|
| 2022 | -11.2% | -20.0% |
| 2023 | +29.1% | -6.3% |
| 2024 | -7.4% | +28.2% |
| 2025 | +7.4% | +11.6% |
| 2026 | +10.6% | +18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OZK and ZION good diversifiers for each other?
No. With a correlation of 0.83, OZK and ZION move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between OZK and ZION?
Using weekly returns as of 2026-08-27: 0.83 over 3 years, with 0.84 over the last year and 0.76 over 5 years.
Is ZION a good diversifier for OZK?
No. With a correlation of 0.83, OZK and ZION move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ozk-vs-zion.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ozk-vs-zion/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OZK correlations · ZION correlations
