AFRM vs PAY: Correlation
Affirm Holdings, Inc. (AFRM) and Paymentus Holdings, Inc. (PAY) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFRM and PAY?
Across a 3-year window, the weekly returns of AFRM and PAY correlate at 0.44, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.44 over 3 years. Stretching to 5 years gives 0.42, with an annualized covariance of 1899.2 %².
Among the 17 assets we track against AFRM, PAY sits near the bottom by co-movement, at rank #13. On 12-month performance AFRM holds a 6.7-point edge, -0.1% against -6.8%.
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.
AFRM vs PAY: side by side
| AFRM (Affirm Holdings, Inc.) | PAY (Paymentus Holdings, Inc.) | |
|---|---|---|
| 1-year return | -0.1% | -6.8% |
| 5-year return | -22.2% | +38.6% |
| Volatility (ann.) | 75.0% | 57.0% |
| Beta vs S&P 500 | 2.77 | 1.24 |
| Max drawdown (3Y) | -55.9% | -49.3% |
| Market cap | $26.0B | $4.5B |
| P/E (trailing) | 69.2 | 60.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFRM | PAY |
|---|---|---|
| 2022 | -90.4% | -77.1% |
| 2023 | +408.2% | +123.1% |
| 2024 | +23.9% | +82.8% |
| 2025 | +22.2% | -3.3% |
| 2026 | +4.1% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFRM and PAY good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AFRM and PAY?
The AFRM/PAY correlation stands at 0.44 on a 3-year window (1 year: 0.54, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is PAY a good diversifier for AFRM?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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/afrm-vs-pay.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afrm-vs-pay/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFRM correlations · PAY correlations
