AXP vs FOUR: Correlation
How closely do American Express (AXP) and Shift4 Payments, Inc. (FOUR) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and FOUR?
On 3 years of weekly data the AXP/FOUR correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 698.2 %².
Within AXP's tracked universe of 35 assets, FOUR comes in at #23 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AXP outperformed by 56.0 percentage points (+4.7% for AXP against -51.3% for FOUR). Risk is not evenly split, since FOUR carries 2.0 times the volatility of the other side.
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.
AXP vs FOUR: side by side
| AXP (American Express) | FOUR (Shift4 Payments, Inc.) | |
|---|---|---|
| 1-year return | +4.7% | -51.3% |
| 5-year return | +116.2% | -48.7% |
| Volatility (ann.) | 26.6% | 52.8% |
| Beta vs S&P 500 | 1.20 | 1.43 |
| Max drawdown (3Y) | -28.8% | -71.6% |
| Market cap | $225.7B | $3.5B |
| P/E (trailing) | 20.4 | 68.7 |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AXP | FOUR |
|---|---|---|
| 2022 | -8.5% | -3.5% |
| 2023 | +28.7% | +32.9% |
| 2024 | +60.3% | +39.6% |
| 2025 | +26.0% | -39.3% |
| 2026 | -8.9% | -30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXP and FOUR good diversifiers for each other?
Only partially. A correlation of 0.50 means AXP and FOUR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AXP and FOUR?
As of 2026-08-27, the correlation of weekly returns between AXP and FOUR is 0.50 over 3 years, 0.40 over 1 year and 0.52 over 5 years.
Is FOUR a good diversifier for AXP?
Only partially. A correlation of 0.50 means AXP and FOUR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 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/axp-vs-four.json
Embed this badge (it refreshes with the data), with attribution:
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXP correlations · FOUR correlations
