PMTS vs ZBRA: Correlation
CPI Card Group Inc. (PMTS) and Zebra Technologies (ZBRA) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMTS and ZBRA?
Over the past 3 years, PMTS and ZBRA moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 1289.9 %².
Few assets follow PMTS as closely as ZBRA, which ranks #2 of 12 tracked partners. Correlation aside, the last 12 months split them widely, with PMTS ahead by 74.2 points (+86.5% versus +12.3%). Note the risk asymmetry: PMTS runs 1.6 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.
PMTS vs ZBRA: side by side
| PMTS (CPI Card Group Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +86.5% | +12.3% |
| 5-year return | +3.4% | -38.2% |
| Volatility (ann.) | 65.4% | 40.8% |
| Beta vs S&P 500 | 1.51 | 1.54 |
| Max drawdown (3Y) | -67.1% | -52.7% |
| Market cap | $0.3B | $17.1B |
| P/E (trailing) | 25.2 | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | PMTS | ZBRA |
|---|---|---|
| 2022 | +94.5% | -56.9% |
| 2023 | -46.8% | +6.6% |
| 2024 | +55.8% | +41.3% |
| 2025 | -50.9% | -37.1% |
| 2026 | +97.2% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMTS and ZBRA good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PMTS and ZBRA?
The PMTS/ZBRA correlation stands at 0.48 on a 3-year window (1 year: 0.52, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is ZBRA a good diversifier for PMTS?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/pmts-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pmts-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PMTS correlations · ZBRA correlations
