CARG vs PAR: Correlation
How closely do CarGurus, Inc. (CARG) and PAR Technology Corporation (PAR) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARG and PAR?
Over the past 3 years, CARG and PAR moved with a correlation of 0.53, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.53 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 1165.9 %².
Within CARG's tracked universe of 17 assets, PAR comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CARG ahead by 69.3 points (+6.1% versus -63.2%).
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 PAR: side by side
| CARG (CarGurus, Inc.) | PAR (PAR Technology Corporation) | |
|---|---|---|
| 1-year return | +6.1% | -63.2% |
| 5-year return | +17.1% | -71.7% |
| Volatility (ann.) | 39.4% | 56.2% |
| Beta vs S&P 500 | 1.12 | 1.72 |
| Max drawdown (3Y) | -37.9% | -85.4% |
| Market cap | $3.2B | $0.8B |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CARG | PAR |
|---|---|---|
| 2022 | -58.4% | -50.6% |
| 2023 | +72.4% | +67.0% |
| 2024 | +51.2% | +66.9% |
| 2025 | +5.0% | -50.1% |
| 2026 | -5.2% | -47.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARG and PAR good diversifiers for each other?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CARG and PAR?
The CARG/PAR correlation stands at 0.53 on a 3-year window (1 year: 0.43, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is PAR a good diversifier for CARG?
To a limited degree. At 0.53 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.53 mean?
A reading of 0.53 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/carg-vs-par.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/carg-vs-par/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CARG correlations · PAR correlations
