PI vs ZBRA: Correlation
Measured on weekly returns over the past three years, Impinj, Inc. (PI) and Zebra Technologies (ZBRA) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PI and ZBRA?
Over the past 3 years, PI and ZBRA moved with a correlation of 0.51, which is moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.51). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1458.8 %².
Few assets follow PI as closely as ZBRA, which ranks #2 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with ZBRA ahead by 22.1 points (-9.8% versus +12.3%). One caveat on sizing: PI is 1.7 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.
PI vs ZBRA: side by side
| PI (Impinj, Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | -9.8% | +12.3% |
| 5-year return | +187.5% | -38.2% |
| Volatility (ann.) | 70.0% | 40.8% |
| Beta vs S&P 500 | 2.30 | 1.54 |
| Max drawdown (3Y) | -73.8% | -52.7% |
| Market cap | $5.1B | $17.1B |
| P/E (trailing) | – | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | PI | ZBRA |
|---|---|---|
| 2022 | +23.1% | -56.9% |
| 2023 | -17.5% | +6.6% |
| 2024 | +61.3% | +41.3% |
| 2025 | +19.8% | -37.1% |
| 2026 | -3.4% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PI and ZBRA good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PI and ZBRA?
As of 2026-08-27, the correlation of weekly returns between PI and ZBRA is 0.51 over 3 years, 0.40 over 1 year and 0.49 over 5 years.
Is ZBRA a good diversifier for PI?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pi-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pi-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PI correlations · ZBRA correlations
