REED vs ZBRA: Correlation
How closely do Reed's, Inc. (REED) and Zebra Technologies (ZBRA) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REED and ZBRA?
On 3 years of weekly data the REED/ZBRA correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. The 5-year figure is -0.10, and annualized covariance runs at -1074.6 %².
Among the 31 assets we track against REED, ZBRA ranks #25 by 3-year correlation. The last year tells two different stories: ZBRA led by 96.4 percentage points, -84.1% for REED against +12.3% for ZBRA. Note the risk asymmetry: REED runs 2.6 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.
REED vs ZBRA: side by side
| REED (Reed's, Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | -84.1% | +12.3% |
| 5-year return | -99.5% | -38.2% |
| Volatility (ann.) | 104.6% | 40.8% |
| Beta vs S&P 500 | -0.39 | 1.54 |
| Max drawdown (3Y) | -96.4% | -52.7% |
| Market cap | – | $17.1B |
| P/E (trailing) | – | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | REED | ZBRA |
|---|---|---|
| 2022 | -80.6% | -56.9% |
| 2023 | -54.3% | +6.6% |
| 2024 | -60.6% | +41.3% |
| 2025 | -44.4% | -37.1% |
| 2026 | -53.6% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REED and ZBRA good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between REED and ZBRA?
As of 2026-08-27, the correlation of weekly returns between REED and ZBRA is -0.25 over 3 years, -0.32 over 1 year and -0.10 over 5 years.
Is ZBRA a good diversifier for REED?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/reed-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/reed-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: REED correlations · ZBRA correlations
