CPAY vs VYM: Correlation
Corpay (CPAY) and Vanguard High Dividend Yield ETF (VYM) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and VYM?
Across a 3-year window, the weekly returns of CPAY and VYM correlate at 0.66, strong. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.66). Stretching to 5 years gives 0.63, with an annualized covariance of 255.8 %².
Within CPAY's tracked universe of 32 assets, VYM comes in at #6 by 3-year correlation. Their 12-month results are close: +24.1% for CPAY against +21.1% for VYM. Across three years, the rolling one-year figure varied moderately, from 0.47 to 0.86. One caveat on sizing: CPAY is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 VYM: side by side
| CPAY (Corpay) | VYM (Vanguard High Dividend Yield ETF) | |
|---|---|---|
| 1-year return | +24.1% | +21.1% |
| 5-year return | +55.2% | +76.6% |
| Volatility (ann.) | 31.7% | 12.3% |
| Beta vs S&P 500 | 1.22 | 0.69 |
| Max drawdown (3Y) | -34.5% | -14.5% |
| Market cap | $26.5B | – |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 0.00% | 2.24% |
| Expense ratio | – | 0.04% |
| Assets under management | – | $99.2B |
| Sector / category | Financials | ETF · Dividend |
VYM, Vanguard's Large Value fund, carries $99.2B under management, 604 holdings, a 0.04% expense ratio, a 2.24% trailing dividend yield.
Year-by-year returns
| Year | CPAY | VYM |
|---|---|---|
| 2022 | -17.9% | -0.4% |
| 2023 | +53.9% | +6.6% |
| 2024 | +19.7% | +17.6% |
| 2025 | -11.1% | +15.4% |
| 2026 | +34.1% | +15.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CPAY and VYM good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CPAY and VYM?
The CPAY/VYM correlation stands at 0.66 on a 3-year window (1 year: 0.46, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is VYM a good diversifier for CPAY?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CPAY correlations · VYM correlations
