AFYA vs PAGS: Correlation
Measured on weekly returns over the past three years, Afya Limited - Class A (AFYA) and PagSeguro Digital Ltd. Class A (PAGS) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFYA and PAGS?
Across a 3-year window, the weekly returns of AFYA and PAGS correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 513.7 %².
In AFYA's tracked universe of 10 assets, PAGS sits right near the top at #3. Over the last 12 months PAGS came out ahead by 6.6 percentage points (-1.0% against +5.6%).
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.
AFYA vs PAGS: side by side
| AFYA (Afya Limited - Class A) | PAGS (PagSeguro Digital Ltd. Class A) | |
|---|---|---|
| 1-year return | -1.0% | +5.6% |
| 5-year return | -27.6% | -84.4% |
| Volatility (ann.) | 30.2% | 42.1% |
| Beta vs S&P 500 | 0.56 | 1.17 |
| Max drawdown (3Y) | -40.4% | -57.6% |
| Market cap | $1.3B | $2.5B |
| P/E (trailing) | 8.5 | 6.2 |
| Dividend yield | 23.89% | 14.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFYA | PAGS |
|---|---|---|
| 2022 | -0.6% | -66.7% |
| 2023 | +40.4% | +42.7% |
| 2024 | -27.6% | -49.8% |
| 2025 | -1.7% | +58.7% |
| 2026 | -3.0% | -5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFYA and PAGS good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AFYA and PAGS?
As of 2026-08-27, the correlation of weekly returns between AFYA and PAGS is 0.40 over 3 years, 0.35 over 1 year and 0.40 over 5 years.
Is PAGS a good diversifier for AFYA?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/afya-vs-pags.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afya-vs-pags/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AFYA correlations · PAGS correlations
