UPST vs Z: Correlation
Upstart Holdings, Inc. (UPST) and Zillow Group, Inc. - Class C Capital Stock (Z) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UPST and Z?
On 3 years of weekly data the UPST/Z correlation comes out at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.45, and annualized covariance runs at 2402.5 %².
By 3-year correlation, Z places #8 of the 28 assets tracked against UPST. Twelve-month performance is nearly a tie, at -56.2% for UPST and -57.9% for Z. Risk is not evenly split, since UPST carries 2.0 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.
UPST vs Z: side by side
| UPST (Upstart Holdings, Inc.) | Z (Zillow Group, Inc. - Class C Capital Stock) | |
|---|---|---|
| 1-year return | -56.2% | -57.9% |
| 5-year return | -85.9% | -63.1% |
| Volatility (ann.) | 91.0% | 46.2% |
| Beta vs S&P 500 | 3.51 | 1.30 |
| Max drawdown (3Y) | -72.7% | -67.4% |
| Market cap | $3.0B | $8.0B |
| P/E (trailing) | 58.6 | 154.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UPST | Z |
|---|---|---|
| 2022 | -91.3% | -49.6% |
| 2023 | +209.1% | +79.6% |
| 2024 | +50.7% | +28.0% |
| 2025 | -29.0% | -7.9% |
| 2026 | -30.3% | -48.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UPST and Z good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between UPST and Z?
The UPST/Z correlation stands at 0.57 on a 3-year window (1 year: 0.51, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is Z a good diversifier for UPST?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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/upst-vs-z.json
Embed this badge (it refreshes with the data), with attribution:
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UPST correlations · Z correlations
