CHWY vs FOUR: Correlation
Chewy, Inc. (CHWY) and Shift4 Payments, Inc. (FOUR) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHWY and FOUR?
Across a 3-year window, the weekly returns of CHWY and FOUR correlate at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.24 versus 0.36 over 3 years. Stretching to 5 years gives 0.37, with an annualized covariance of 992.2 %².
Within CHWY's tracked universe of 11 assets, FOUR comes in at #5 by 3-year correlation. The trailing year gives CHWY the advantage: -43.6% versus -51.3%, a 7.7-point spread.
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.
CHWY vs FOUR: side by side
| CHWY (Chewy, Inc.) | FOUR (Shift4 Payments, Inc.) | |
|---|---|---|
| 1-year return | -43.6% | -51.3% |
| 5-year return | -74.7% | -48.7% |
| Volatility (ann.) | 51.6% | 52.8% |
| Beta vs S&P 500 | 1.00 | 1.43 |
| Max drawdown (3Y) | -63.7% | -71.6% |
| Market cap | $9.3B | $3.5B |
| P/E (trailing) | 38.0 | 68.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHWY | FOUR |
|---|---|---|
| 2022 | -37.1% | -3.5% |
| 2023 | -36.3% | +32.9% |
| 2024 | +41.7% | +39.6% |
| 2025 | -1.3% | -39.3% |
| 2026 | -31.0% | -30.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHWY and FOUR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CHWY and FOUR?
As of 2026-08-27, the correlation of weekly returns between CHWY and FOUR is 0.36 over 3 years, 0.24 over 1 year and 0.37 over 5 years.
Is FOUR a good diversifier for CHWY?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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
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Related comparisons
Hubs: CHWY correlations · FOUR correlations
