ABNB vs CVNA: Correlation
How closely do Airbnb (ABNB) and Carvana (CVNA) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABNB and CVNA?
On 3 years of weekly data the ABNB/CVNA correlation comes out at 0.42, moderate. The link has tightened recently: the 1-year correlation (0.52) runs above the 3-year figure (0.42). The 5-year figure is 0.48, and annualized covariance runs at 1079.3 %².
By 3-year correlation, CVNA places #21 of the 32 assets tracked against ABNB. Their recent paths diverged sharply: over the last 12 months ABNB outperformed by 41.2 percentage points (+42.0% for ABNB against +0.8% for CVNA). Across three years, the rolling one-year figure varied moderately, from 0.25 to 0.55. One caveat on sizing: CVNA is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABNB vs CVNA: side by side
| ABNB (Airbnb) | CVNA (Carvana) | |
|---|---|---|
| 1-year return | +42.0% | +0.8% |
| 5-year return | +18.2% | +9.7% |
| Volatility (ann.) | 35.2% | 73.7% |
| Beta vs S&P 500 | 1.28 | 2.66 |
| Max drawdown (3Y) | -37.2% | -53.5% |
| Market cap | $110.4B | $82.1B |
| P/E (trailing) | 42.9 | 39.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | ABNB | CVNA |
|---|---|---|
| 2022 | -48.6% | -98.0% |
| 2023 | +59.2% | +1016.9% |
| 2024 | -3.5% | +284.1% |
| 2025 | +3.3% | +107.5% |
| 2026 | +35.9% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABNB and CVNA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ABNB and CVNA?
As of 2026-08-27, the correlation of weekly returns between ABNB and CVNA is 0.42 over 3 years, 0.52 over 1 year and 0.48 over 5 years.
Is CVNA a good diversifier for ABNB?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ABNB correlations · CVNA correlations
