RLI vs ZSQR: Correlation
RLI Corp. (RLI) and Z Squared Inc. (ZSQR) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RLI and ZSQR?
On 3 years of weekly data the RLI/ZSQR correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.24 over 3. The 5-year figure is -0.08, and annualized covariance runs at -530.3 %².
ZSQR is close to the least connected end of RLI's tracked universe, ranking #26 of 29. Their recent paths diverged sharply: over the last 12 months RLI outperformed by 70.1 percentage points (+1.9% for RLI against -68.2% for ZSQR). Risk is not evenly split, since ZSQR carries 4.4 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.
RLI vs ZSQR: side by side
| RLI (RLI Corp.) | ZSQR (Z Squared Inc.) | |
|---|---|---|
| 1-year return | +1.9% | -68.2% |
| 5-year return | +46.7% | -97.9% |
| Volatility (ann.) | 22.2% | 98.5% |
| Beta vs S&P 500 | 0.18 | 0.28 |
| Max drawdown (3Y) | -43.5% | -89.7% |
| Market cap | $5.9B | $0.2B |
| P/E (trailing) | 13.5 | – |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RLI | ZSQR |
|---|---|---|
| 2022 | +24.8% | -84.7% |
| 2023 | +3.8% | -48.8% |
| 2024 | +27.6% | -64.9% |
| 2025 | -19.1% | +159.1% |
| 2026 | +5.1% | -70.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RLI and ZSQR good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between RLI and ZSQR?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.24 over the last year and -0.08 over 5 years.
Is ZSQR a good diversifier for RLI?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rli-vs-zsqr.json
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Related comparisons
Hubs: RLI correlations · ZSQR correlations
