PCRX vs ZNB: Correlation
Measured on weekly returns over the past three years, Pacira BioSciences, Inc. (PCRX) and Zeta Network Group - Class A (ZNB) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCRX and ZNB?
Across a 3-year window, the weekly returns of PCRX and ZNB correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.23 over 3 years. Stretching to 5 years gives -0.16, with an annualized covariance of -1897.0 %².
Out of 12 assets tracked against PCRX, ZNB lands near the bottom at #11. The last year tells two different stories: PCRX led by 98.8 percentage points, -1.1% for PCRX against -99.9% for ZNB. Note the risk asymmetry: ZNB runs 3.3 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.
PCRX vs ZNB: side by side
| PCRX (Pacira BioSciences, Inc.) | ZNB (Zeta Network Group - Class A) | |
|---|---|---|
| 1-year return | -1.1% | -99.9% |
| 5-year return | -56.2% | -100.0% |
| Volatility (ann.) | 50.0% | 165.3% |
| Beta vs S&P 500 | 0.71 | 2.26 |
| Max drawdown (3Y) | -67.9% | -100.0% |
| Market cap | $1.0B | – |
| P/E (trailing) | 73.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCRX | ZNB |
|---|---|---|
| 2022 | -35.8% | -95.4% |
| 2023 | -12.6% | -59.3% |
| 2024 | -44.2% | -93.6% |
| 2025 | +37.4% | -99.0% |
| 2026 | -0.2% | -99.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCRX and ZNB good diversifiers for each other?
Yes. With a correlation of -0.23, PCRX and ZNB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PCRX and ZNB?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.06 over the last year and -0.16 over 5 years.
Is ZNB a good diversifier for PCRX?
Yes. With a correlation of -0.23, PCRX and ZNB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PCRX correlations · ZNB correlations
