CSGP vs PAR: Correlation
How closely do CoStar Group (CSGP) and PAR Technology Corporation (PAR) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSGP and PAR?
On 3 years of weekly data the CSGP/PAR correlation comes out at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 950.0 %².
By 3-year correlation, PAR places #5 of the 34 assets tracked against CSGP. Neither side won the trailing year by much: -65.0% against -63.2%. One caveat on sizing: PAR is 1.5 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.
CSGP vs PAR: side by side
| CSGP (CoStar Group) | PAR (PAR Technology Corporation) | |
|---|---|---|
| 1-year return | -65.0% | -63.2% |
| 5-year return | -62.7% | -71.7% |
| Volatility (ann.) | 36.5% | 56.2% |
| Beta vs S&P 500 | 0.86 | 1.72 |
| Max drawdown (3Y) | -72.2% | -85.4% |
| Market cap | $12.7B | $0.8B |
| P/E (trailing) | 174.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CSGP | PAR |
|---|---|---|
| 2022 | -2.2% | -50.6% |
| 2023 | +13.1% | +67.0% |
| 2024 | -18.1% | +66.9% |
| 2025 | -6.1% | -50.1% |
| 2026 | -53.4% | -47.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSGP and PAR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CSGP and PAR?
As of 2026-08-27, the correlation of weekly returns between CSGP and PAR is 0.46 over 3 years, 0.52 over 1 year and 0.44 over 5 years.
Is PAR a good diversifier for CSGP?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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: CSGP correlations · PAR correlations
