RMT vs ZBRA: Correlation
How closely do Royce Micro-Cap Trust, Inc. (RMT) and Zebra Technologies (ZBRA) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and ZBRA?
On 3 years of weekly data the RMT/ZBRA correlation comes out at 0.57, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.57 over 3 years. The 5-year figure is 0.60, and annualized covariance runs at 477.0 %².
Among the 136 assets we track against RMT, ZBRA ranks #44 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RMT ahead by 36.1 points (+48.4% versus +12.3%). Risk is not evenly split, since ZBRA 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.
RMT vs ZBRA: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +48.4% | +12.3% |
| 5-year return | +80.1% | -38.2% |
| Volatility (ann.) | 20.5% | 40.8% |
| Beta vs S&P 500 | 1.09 | 1.54 |
| Max drawdown (3Y) | -26.4% | -52.7% |
| Market cap | $0.8B | $17.1B |
| P/E (trailing) | 8.5 | 33.0 |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | RMT | ZBRA |
|---|---|---|
| 2022 | -16.8% | -56.9% |
| 2023 | +15.8% | +6.6% |
| 2024 | +14.0% | +41.3% |
| 2025 | +16.1% | -37.1% |
| 2026 | +39.6% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and ZBRA good diversifiers for each other?
Only partially. A correlation of 0.57 means RMT and ZBRA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between RMT and ZBRA?
The RMT/ZBRA correlation stands at 0.57 on a 3-year window (1 year: 0.38, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is ZBRA a good diversifier for RMT?
Only partially. A correlation of 0.57 means RMT and ZBRA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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/rmt-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RMT correlations · ZBRA correlations
