CSV vs IIIV: Correlation
How closely do Carriage Services, Inc. (CSV) and i3 Verticals, Inc. (IIIV) 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 CSV and IIIV?
Across a 3-year window, the weekly returns of CSV and IIIV correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.23, with an annualized covariance of 517.4 %².
By 3-year correlation, IIIV places #6 of the 11 assets tracked against CSV. Correlation aside, the last 12 months split them widely, with CSV ahead by 25.0 points (-22.2% versus -47.2%).
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.
CSV vs IIIV: side by side
| CSV (Carriage Services, Inc.) | IIIV (i3 Verticals, Inc.) | |
|---|---|---|
| 1-year return | -22.2% | -47.2% |
| 5-year return | -19.2% | -43.7% |
| Volatility (ann.) | 31.0% | 37.8% |
| Beta vs S&P 500 | 0.62 | 0.59 |
| Max drawdown (3Y) | -36.6% | -51.7% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | 12.5 | 58.4 |
| Dividend yield | 1.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CSV | IIIV |
|---|---|---|
| 2022 | -56.7% | +6.8% |
| 2023 | -7.7% | -13.0% |
| 2024 | +61.8% | +8.8% |
| 2025 | +7.3% | +9.3% |
| 2026 | -18.4% | -35.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSV and IIIV 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 CSV and IIIV?
As of 2026-08-27, the correlation of weekly returns between CSV and IIIV is 0.44 over 3 years, 0.39 over 1 year and 0.23 over 5 years.
Is IIIV a good diversifier for CSV?
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?
A reading of 0.44 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: CSV correlations · IIIV correlations
