PDCC vs ZTS: Correlation
Pearl Diver Credit Company Inc. (PDCC) and Zoetis (ZTS) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDCC and ZTS?
Across a 3-year window, the weekly returns of PDCC and ZTS correlate at -0.25, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.25). Stretching to 5 years gives n/a, with an annualized covariance of -206.1 %².
Among the 18 assets we track against PDCC, ZTS ranks #9 by 3-year correlation. Over the last 12 months PDCC came out ahead by 12.8 percentage points (-38.0% against -50.8%).
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.
PDCC vs ZTS: side by side
| PDCC (Pearl Diver Credit Company Inc.) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | -38.0% | -50.8% |
| 5-year return | n/a | -61.5% |
| Volatility (ann.) | 26.4% | 30.1% |
| Beta vs S&P 500 | 0.17 | 0.51 |
| Max drawdown (3Y) | -47.3% | -63.0% |
| Market cap | $0.1B | $31.0B |
| P/E (trailing) | – | 12.7 |
| Dividend yield | 0.00% | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | PDCC | ZTS |
|---|---|---|
| 2022 | – | -39.5% |
| 2023 | – | +35.9% |
| 2024 | – | -16.6% |
| 2025 | -20.9% | -21.8% |
| 2026 | -27.7% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDCC and ZTS good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between PDCC and ZTS?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.36 over the last year and n/a over 5 years.
Is ZTS a good diversifier for PDCC?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 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
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Related comparisons
Hubs: PDCC correlations · ZTS correlations
