WBTN vs ZNB: Correlation
How closely do WEBTOON Entertainment Inc. (WBTN) and Zeta Network Group - Class A (ZNB) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WBTN and ZNB?
Over the past 3 years, WBTN and ZNB moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.20) runs above the 3-year figure (-0.27). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3814.9 %².
Among the 29 assets we track against WBTN, ZNB sits near the bottom by co-movement, at rank #29. Correlation aside, the last 12 months split them widely, with WBTN ahead by 65.5 points (-34.4% versus -99.9%). Note the risk asymmetry: ZNB runs 2.1 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.
WBTN vs ZNB: side by side
| WBTN (WEBTOON Entertainment Inc.) | ZNB (Zeta Network Group - Class A) | |
|---|---|---|
| 1-year return | -34.4% | -99.9% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 80.5% | 165.3% |
| Beta vs S&P 500 | 1.69 | 2.26 |
| Max drawdown (3Y) | -70.6% | -100.0% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WBTN | ZNB |
|---|---|---|
| 2022 | – | -95.4% |
| 2023 | – | -59.3% |
| 2024 | – | -93.6% |
| 2025 | -4.1% | -99.0% |
| 2026 | -23.6% | -99.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WBTN and ZNB good diversifiers for each other?
Yes. With a correlation of -0.27, WBTN and ZNB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between WBTN and ZNB?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.20 over the last year and n/a over 5 years.
Is ZNB a good diversifier for WBTN?
Yes. With a correlation of -0.27, WBTN and ZNB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: WBTN correlations · ZNB correlations
