ZBRA vs. SPRX
ZBRA (Zebra Technologies Corporation) is a stock, while SPRX (Spear Alpha ETF) is Technology Equities fund actively managed by Spear. Over the past 3 years, ZBRA returned -3.57%/yr vs 48.52%/yr for SPRX. A 0.58 correlation means they provide meaningful diversification when combined.
Performance
ZBRA vs. SPRX - Performance Comparison
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Returns By Period
In the year-to-date period, ZBRA achieves a 2.67% return, which is significantly lower than SPRX's 50.26% return.
ZBRA
- 1D
- -2.02%
- 1M
- 11.43%
- YTD
- 2.67%
- 6M
- -3.87%
- 1Y
- -14.62%
- 3Y*
- -3.57%
- 5Y*
- -13.56%
- 10Y*
- 16.37%
SPRX
- 1D
- -1.57%
- 1M
- 33.49%
- YTD
- 50.26%
- 6M
- 44.40%
- 1Y
- 109.60%
- 3Y*
- 48.52%
- 5Y*
- —
- 10Y*
- —
ZBRA vs. SPRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZBRA Zebra Technologies Corporation | 2.67% | -37.13% | 41.30% | 6.60% | -56.92% | 6.29% |
SPRX Spear Alpha ETF | 50.26% | 41.91% | 20.58% | 88.02% | -44.99% | 8.91% |
Correlation
The correlation between ZBRA and SPRX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021 | 0.58 |
Over the past year, the correlation between ZBRA and SPRX has dropped to 0.36 - well below their long-term average of 0.58, suggesting their price drivers have been diverging.
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Return for Risk
ZBRA vs. SPRX — Risk / Return Rank
ZBRA
SPRX
ZBRA vs. SPRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Zebra Technologies Corporation (ZBRA) and Spear Alpha ETF (SPRX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ZBRA | SPRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.89 | ||
| Sortino ratioReturn per unit of downside risk | -3.14 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.38 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 4.55 | -4.91 |
| Martin ratioReturn relative to average drawdown | -0.62 | 14.41 | -15.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZBRA | SPRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.36 | 2.53 | -2.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.34 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.59 | -0.35 |
Drawdowns
ZBRA vs. SPRX - Drawdown Comparison
The maximum ZBRA drawdown since its inception was -73.42%, which is greater than SPRX's maximum drawdown of -51.21%. Use the drawdown chart below to compare losses from any high point for ZBRA and SPRX.
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Drawdown Indicators
| ZBRA | SPRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.42% | -51.21% | -22.21% |
Max Drawdown (1Y)Largest decline over 1 year | -41.62% | -24.21% | -17.41% |
Max Drawdown (3Y)Largest decline over 3 years | -52.67% | -42.12% | -10.55% |
Max Drawdown (5Y)Largest decline over 5 years | -67.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -67.78% | — | — |
Current DrawdownCurrent decline from peak | -59.43% | -1.57% | -57.86% |
Average DrawdownAverage peak-to-trough decline | -27.68% | -17.65% | -10.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.75% | 7.63% | +16.12% |
Volatility
ZBRA vs. SPRX - Volatility Comparison
Zebra Technologies Corporation (ZBRA) has a higher volatility of 15.81% compared to Spear Alpha ETF (SPRX) at 14.91%. This indicates that ZBRA's price experiences larger fluctuations and is considered to be riskier than SPRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZBRA | SPRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.81% | 14.91% | +0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 29.79% | 35.46% | -5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.16% | 43.53% | -2.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.27% | 41.74% | -1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.27% | 41.74% | -2.47% |
Dividends
ZBRA vs. SPRX - Dividend Comparison
Neither ZBRA nor SPRX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SPRX Spear Alpha ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.25% |
ZBRA Zebra Technologies Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZBRA and SPRX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ZBRA has higher volatility (15.81%) compared to SPRX (14.91%). In terms of maximum drawdown, ZBRA dropped -73.42% vs SPRX's -51.21%.
SPRX currently has the higher Sharpe Ratio (2.53 vs -0.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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