PXLW vs ZDGE: Correlation
How closely do Pixelworks, Inc. (PXLW) and Zedge, Inc. (ZDGE) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PXLW and ZDGE?
On 3 years of weekly data the PXLW/ZDGE correlation comes out at 0.38, moderate. The link has loosened recently: the 1-year correlation (0.17) runs below the 3-year figure (0.38). The 5-year figure is 0.38, and annualized covariance runs at 2907.7 %².
By 3-year correlation, ZDGE places #4 of the 13 assets tracked against PXLW. The trailing year gives ZDGE the advantage: -13.6% versus -3.0%, a 10.6-point spread.
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.
PXLW vs ZDGE: side by side
| PXLW (Pixelworks, Inc.) | ZDGE (Zedge, Inc.) | |
|---|---|---|
| 1-year return | -13.6% | -3.0% |
| 5-year return | -90.7% | -81.5% |
| Volatility (ann.) | 99.0% | 76.8% |
| Beta vs S&P 500 | 1.41 | 0.91 |
| Max drawdown (3Y) | -86.3% | -61.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PXLW | ZDGE |
|---|---|---|
| 2022 | -59.8% | -79.3% |
| 2023 | -26.0% | +33.5% |
| 2024 | -44.3% | +14.5% |
| 2025 | -27.4% | +22.5% |
| 2026 | +8.6% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PXLW and ZDGE good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PXLW and ZDGE?
As of 2026-08-27, the correlation of weekly returns between PXLW and ZDGE is 0.38 over 3 years, 0.17 over 1 year and 0.38 over 5 years.
Is ZDGE a good diversifier for PXLW?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/pxlw-vs-zdge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pxlw-vs-zdge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PXLW correlations · ZDGE correlations
