TOP vs TZOO: Correlation
Measured on weekly returns over the past three years, TOP Financial Group Limited - Class A (TOP) and Travelzoo (TZOO) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TOP and TZOO?
Over the past 3 years, TOP and TZOO moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.25). Over 5 years the correlation is 0.16, and the annualized covariance of weekly returns is -3640.1 %².
Within TOP's tracked universe of 46 assets, TZOO comes in at #33 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TOP ahead by 1249.7 points (+1217.9% versus -31.8%). Note the risk asymmetry: TOP runs 3.7 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.
TOP vs TZOO: side by side
| TOP (TOP Financial Group Limited - Class A) | TZOO (Travelzoo) | |
|---|---|---|
| 1-year return | +1217.9% | -31.8% |
| 5-year return | -9.2% | -45.0% |
| Volatility (ann.) | 230.2% | 62.1% |
| Beta vs S&P 500 | 1.60 | 0.99 |
| Max drawdown (3Y) | -89.6% | -78.8% |
| Market cap | $1.9B | $0.1B |
| P/E (trailing) | – | 111.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TOP | TZOO |
|---|---|---|
| 2022 | – | -52.8% |
| 2023 | -22.5% | +114.2% |
| 2024 | -59.5% | +109.3% |
| 2025 | -34.3% | -64.3% |
| 2026 | +1434.3% | -6.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TOP and TZOO good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between TOP and TZOO?
As of 2026-08-27, the correlation of weekly returns between TOP and TZOO is -0.25 over 3 years, -0.41 over 1 year and 0.16 over 5 years.
Is TZOO a good diversifier for TOP?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/top-vs-tzoo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/top-vs-tzoo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TOP correlations · TZOO correlations
