CPAY vs USB: Correlation
Corpay (CPAY) and U.S. Bancorp (USB) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and USB?
On 3 years of weekly data the CPAY/USB correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 544.1 %².
Within CPAY's tracked universe of 32 assets, USB comes in at #12 by 3-year correlation. Over the last 12 months USB came out ahead by 9.0 percentage points (+24.1% against +33.1%). Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.79.
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.
CPAY vs USB: side by side
| CPAY (Corpay) | USB (U.S. Bancorp) | |
|---|---|---|
| 1-year return | +24.1% | +33.1% |
| 5-year return | +55.2% | +36.0% |
| Volatility (ann.) | 31.7% | 27.3% |
| Beta vs S&P 500 | 1.22 | 1.09 |
| Max drawdown (3Y) | -34.5% | -30.6% |
| Market cap | $26.5B | $97.2B |
| P/E (trailing) | 24.7 | 12.5 |
| Dividend yield | 0.00% | 3.31% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | CPAY | USB |
|---|---|---|
| 2022 | -17.9% | -19.1% |
| 2023 | +53.9% | +4.8% |
| 2024 | +19.7% | +15.6% |
| 2025 | -11.1% | +16.5% |
| 2026 | +34.1% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPAY and USB good diversifiers for each other?
Only partially. A correlation of 0.63 means CPAY and USB 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 CPAY and USB?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.53 over the last year and 0.57 over 5 years.
Is USB a good diversifier for CPAY?
Only partially. A correlation of 0.63 means CPAY and USB share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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
$ curl https://www.pairbook.io/api/v1/pairs/cpay-vs-usb.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpay-vs-usb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CPAY correlations · USB correlations
