RAYA vs ZNTL: Correlation
Measured on weekly returns over the past three years, Erayak Power Solution Group Inc. - Class A (RAYA) and Zentalis Pharmaceuticals, Inc. (ZNTL) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAYA and ZNTL?
Over the past 3 years, RAYA and ZNTL moved with a correlation of 0.34, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.56 versus 0.34 over 3 years. Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 8870.7 %².
Within RAYA's tracked universe of 20 assets, ZNTL comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ZNTL ahead by 211.0 points (-97.8% versus +113.2%).
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.
RAYA vs ZNTL: side by side
| RAYA (Erayak Power Solution Group Inc. - Class A) | ZNTL (Zentalis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -97.8% | +113.2% |
| 5-year return | n/a | -94.1% |
| Volatility (ann.) | 162.4% | 159.7% |
| Beta vs S&P 500 | 0.17 | 2.82 |
| Max drawdown (3Y) | -100.0% | -96.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RAYA | ZNTL |
|---|---|---|
| 2022 | – | -76.0% |
| 2023 | -44.7% | -24.8% |
| 2024 | +23.6% | -80.0% |
| 2025 | -98.7% | -55.4% |
| 2026 | -94.0% | +187.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAYA and ZNTL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RAYA and ZNTL?
The RAYA/ZNTL correlation stands at 0.34 on a 3-year window (1 year: 0.56, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is ZNTL a good diversifier for RAYA?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 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/raya-vs-zntl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/raya-vs-zntl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RAYA correlations · ZNTL correlations
