RVT vs ZBRA: Correlation
Measured on weekly returns over the past three years, Royce Small-Cap Trust, Inc. (RVT) and Zebra Technologies (ZBRA) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RVT and ZBRA?
Over the past 3 years, RVT and ZBRA moved with a correlation of 0.59, which is moderate. The link has loosened recently: the 1-year correlation (0.43) runs below the 3-year figure (0.59). Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 458.4 %².
Within RVT's tracked universe of 116 assets, ZBRA comes in at #48 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RVT outperformed by 15.1 percentage points (+27.4% for RVT against +12.3% for ZBRA). Risk is not evenly split, since ZBRA carries 2.1 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.
RVT vs ZBRA: side by side
| RVT (Royce Small-Cap Trust, Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +27.4% | +12.3% |
| 5-year return | +53.9% | -38.2% |
| Volatility (ann.) | 19.1% | 40.8% |
| Beta vs S&P 500 | 0.99 | 1.54 |
| Max drawdown (3Y) | -23.5% | -52.7% |
| Market cap | $2.3B | $17.1B |
| P/E (trailing) | 6.5 | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | RVT | ZBRA |
|---|---|---|
| 2022 | -26.3% | -56.9% |
| 2023 | +18.8% | +6.6% |
| 2024 | +17.9% | +41.3% |
| 2025 | +11.5% | -37.1% |
| 2026 | +21.2% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RVT and ZBRA good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RVT and ZBRA?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.43 over the last year and 0.64 over 5 years.
Is ZBRA a good diversifier for RVT?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 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/rvt-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rvt-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RVT correlations · ZBRA correlations
