TIL vs ZNB: Correlation
Measured on weekly returns over the past three years, Instil Bio, Inc. (TIL) and Zeta Network Group - Class A (ZNB) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TIL and ZNB?
On 3 years of weekly data the TIL/ZNB correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.08 versus 0.40 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 19547.2 %².
Within TIL's tracked universe of 19 assets, ZNB comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TIL ahead by 28.0 points (-71.9% versus -99.9%). Note the risk asymmetry: TIL runs 1.8 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.
TIL vs ZNB: side by side
| TIL (Instil Bio, Inc.) | ZNB (Zeta Network Group - Class A) | |
|---|---|---|
| 1-year return | -71.9% | -99.9% |
| 5-year return | -97.9% | -100.0% |
| Volatility (ann.) | 296.1% | 165.3% |
| Beta vs S&P 500 | 3.91 | 2.26 |
| Max drawdown (3Y) | -92.1% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TIL | ZNB |
|---|---|---|
| 2022 | -96.3% | -95.4% |
| 2023 | -39.5% | -59.3% |
| 2024 | +150.5% | -93.6% |
| 2025 | -42.4% | -99.0% |
| 2026 | -28.5% | -99.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TIL and ZNB good diversifiers for each other?
Reasonably. At 0.40, TIL and ZNB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between TIL and ZNB?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with -0.08 over the last year and 0.36 over 5 years.
Is ZNB a good diversifier for TIL?
Reasonably. At 0.40, TIL and ZNB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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.
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Related comparisons
Hubs: TIL correlations · ZNB correlations
