SEB vs ZBRA: Correlation
How closely do Seaboard Corporation (SEB) and Zebra Technologies (ZBRA) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SEB and ZBRA?
Over the past 3 years, SEB and ZBRA moved with a correlation of -0.16, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -210.5 %².
Within SEB's tracked universe of 25 assets, ZBRA comes in at #8 by 3-year correlation. The trailing year gives ZBRA the advantage: +4.8% versus +12.3%, a 7.5-point spread.
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.
SEB vs ZBRA: side by side
| SEB (Seaboard Corporation) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +4.8% | +12.3% |
| 5-year return | -4.5% | -38.2% |
| Volatility (ann.) | 32.8% | 40.8% |
| Beta vs S&P 500 | -0.07 | 1.54 |
| Max drawdown (3Y) | -37.7% | -52.7% |
| Market cap | $3.8B | $17.1B |
| P/E (trailing) | 6.0 | 33.0 |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | SEB | ZBRA |
|---|---|---|
| 2022 | -3.8% | -56.9% |
| 2023 | -5.2% | +6.6% |
| 2024 | -31.7% | +41.3% |
| 2025 | +83.5% | -37.1% |
| 2026 | -11.0% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SEB and ZBRA good diversifiers for each other?
Yes. With a correlation of -0.16, SEB and ZBRA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SEB and ZBRA?
The SEB/ZBRA correlation stands at -0.16 on a 3-year window (1 year: -0.23, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is ZBRA a good diversifier for SEB?
Yes. With a correlation of -0.16, SEB and ZBRA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
A reading of -0.16 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/seb-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/seb-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SEB correlations · ZBRA correlations
