TRMB vs ZBRA: Correlation
How closely do Trimble Inc. (TRMB) and Zebra Technologies (ZBRA) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRMB and ZBRA?
On 3 years of weekly data the TRMB/ZBRA correlation comes out at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.53 over 3 years. The 5-year figure is 0.62, and annualized covariance runs at 667.8 %².
By 3-year correlation, ZBRA places #19 of the 43 assets tracked against TRMB. The last year tells two different stories: ZBRA led by 37.4 percentage points, -25.1% for TRMB against +12.3% for ZBRA. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.25 to 0.80.
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.
TRMB vs ZBRA: side by side
| TRMB (Trimble Inc.) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | -25.1% | +12.3% |
| 5-year return | -35.7% | -38.2% |
| Volatility (ann.) | 30.9% | 40.8% |
| Beta vs S&P 500 | 1.13 | 1.54 |
| Max drawdown (3Y) | -42.7% | -52.7% |
| Market cap | $14.3B | $17.1B |
| P/E (trailing) | – | 33.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | TRMB | ZBRA |
|---|---|---|
| 2022 | -42.0% | -56.9% |
| 2023 | +5.2% | +6.6% |
| 2024 | +32.8% | +41.3% |
| 2025 | +10.9% | -37.1% |
| 2026 | -21.5% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRMB and ZBRA good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between TRMB and ZBRA?
The TRMB/ZBRA correlation stands at 0.53 on a 3-year window (1 year: 0.35, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is ZBRA a good diversifier for TRMB?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 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/trmb-vs-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trmb-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TRMB correlations · ZBRA correlations
