CRGO vs STEP: Correlation
How closely do Freightos Limited (CRGO) and StepStone Group Inc. (STEP) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGO and STEP?
Over the past 3 years, CRGO and STEP moved with a correlation of 0.44, which is moderate. The link has tightened recently: the 1-year correlation (0.54) runs above the 3-year figure (0.44). Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 1387.5 %².
In CRGO's tracked universe of 12 assets, STEP sits right near the top at #3. Correlation aside, the last 12 months split them widely, with STEP ahead by 44.6 points (-61.7% versus -17.1%). One caveat on sizing: CRGO is 2.2 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.
CRGO vs STEP: side by side
| CRGO (Freightos Limited) | STEP (StepStone Group Inc.) | |
|---|---|---|
| 1-year return | -61.7% | -17.1% |
| 5-year return | -86.7% | +20.7% |
| Volatility (ann.) | 82.7% | 37.9% |
| Beta vs S&P 500 | 1.79 | 1.43 |
| Max drawdown (3Y) | -72.6% | -46.9% |
| Market cap | $0.1B | $6.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRGO | STEP |
|---|---|---|
| 2022 | +4.2% | -37.8% |
| 2023 | -67.3% | +31.7% |
| 2024 | -8.4% | +85.9% |
| 2025 | -25.2% | +13.6% |
| 2026 | -43.0% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGO and STEP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CRGO and STEP?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.54 over the last year and 0.30 over 5 years.
Is STEP a good diversifier for CRGO?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/crgo-vs-step.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crgo-vs-step/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRGO correlations · STEP correlations
