CRGO vs PIPR: Correlation
Measured on weekly returns over the past three years, Freightos Limited (CRGO) and Piper Sandler Companies (PIPR) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGO and PIPR?
On 3 years of weekly data the CRGO/PIPR correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is 0.31, and annualized covariance runs at 1290.2 %².
PIPR is one of the assets that tracks CRGO most closely: it ranks #1 out of the 12 assets we track against CRGO. The last year tells two different stories: PIPR led by 52.5 percentage points, -61.7% for CRGO against -9.2% for PIPR. Note the risk asymmetry: CRGO runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CRGO vs PIPR: side by side
| CRGO (Freightos Limited) | PIPR (Piper Sandler Companies) | |
|---|---|---|
| 1-year return | -61.7% | -9.2% |
| 5-year return | -86.7% | +143.0% |
| Volatility (ann.) | 82.7% | 33.6% |
| Beta vs S&P 500 | 1.79 | 1.35 |
| Max drawdown (3Y) | -72.6% | -38.8% |
| Market cap | $0.1B | $5.3B |
| P/E (trailing) | – | 17.3 |
| Dividend yield | 0.00% | 0.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRGO | PIPR |
|---|---|---|
| 2022 | +4.2% | -23.4% |
| 2023 | -67.3% | +37.8% |
| 2024 | -8.4% | +74.2% |
| 2025 | -25.2% | +15.5% |
| 2026 | -43.0% | -10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGO and PIPR good diversifiers for each other?
Reasonably. At 0.47, CRGO and PIPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CRGO and PIPR?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.45 over the last year and 0.31 over 5 years.
Is PIPR a good diversifier for CRGO?
Reasonably. At 0.47, CRGO and PIPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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: CRGO correlations · PIPR correlations
