PULM vs ZETA: Correlation
Measured on weekly returns over the past three years, Pulmatrix, Inc. (PULM) and Zeta Global Holdings Corp. (ZETA) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PULM and ZETA?
Over the past 3 years, PULM and ZETA moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.10) runs above the 3-year figure (-0.36). Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -3745.2 %².
Among the 37 assets we track against PULM, ZETA sits near the bottom by co-movement, at rank #35. Correlation aside, the last 12 months split them widely, with ZETA ahead by 120.4 points (-68.7% versus +51.7%). Risk is not evenly split, since PULM carries 2.0 times the volatility of the other side.
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.
PULM vs ZETA: side by side
| PULM (Pulmatrix, Inc.) | ZETA (Zeta Global Holdings Corp.) | |
|---|---|---|
| 1-year return | -68.7% | +51.7% |
| 5-year return | -90.6% | +373.7% |
| Volatility (ann.) | 144.8% | 71.9% |
| Beta vs S&P 500 | -0.18 | 2.30 |
| Max drawdown (3Y) | -88.1% | -70.0% |
| Market cap | – | $7.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PULM | ZETA |
|---|---|---|
| 2022 | -55.7% | -3.0% |
| 2023 | -52.1% | +8.0% |
| 2024 | +275.3% | +104.0% |
| 2025 | -68.1% | +13.1% |
| 2026 | -31.8% | +48.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PULM and ZETA good diversifiers for each other?
Yes. With a correlation of -0.36, PULM and ZETA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PULM and ZETA?
The PULM/ZETA correlation stands at -0.36 on a 3-year window (1 year: 0.10, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is ZETA a good diversifier for PULM?
Yes. With a correlation of -0.36, PULM and ZETA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pulm-vs-zeta.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pulm-vs-zeta/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PULM correlations · ZETA correlations
