CARG vs FOUR: Correlation
How closely do CarGurus, Inc. (CARG) and Shift4 Payments, Inc. (FOUR) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and FOUR?
Over the past 3 years, CARG and FOUR moved with a correlation of 0.51, which is moderate. The past 12 months show a weaker link (0.31) than the 3-year average (0.51). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 1065.2 %².
Among the 17 assets we track against CARG, FOUR ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CARG outperformed by 57.4 percentage points (+6.1% for CARG against -51.3% for FOUR).
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.
CARG vs FOUR: side by side
| CARG (CarGurus, Inc.) | FOUR (Shift4 Payments, Inc.) | |
|---|---|---|
| 1-year return | +6.1% | -51.3% |
| 5-year return | +17.1% | -48.7% |
| Volatility (ann.) | 39.4% | 52.8% |
| Beta vs S&P 500 | 1.12 | 1.43 |
| Max drawdown (3Y) | -37.9% | -71.6% |
| Market cap | $3.2B | $3.5B |
| P/E (trailing) | 18.6 | 68.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARG | FOUR |
|---|---|---|
| 2022 | -58.4% | -3.5% |
| 2023 | +72.4% | +32.9% |
| 2024 | +51.2% | +39.6% |
| 2025 | +5.0% | -39.3% |
| 2026 | -5.2% | -30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and FOUR good diversifiers for each other?
Only partially. A correlation of 0.51 means CARG 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 CARG and FOUR?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.31 over the last year and 0.38 over 5 years.
Is FOUR a good diversifier for CARG?
Only partially. A correlation of 0.51 means CARG 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 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: CARG correlations · FOUR correlations
