CVNA vs GME: Correlation
Measured on weekly returns over the past three years, Carvana (CVNA) and GameStop Corporation (GME) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVNA and GME?
On 3 years of weekly data the CVNA/GME correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.34 over 3. The 5-year figure is 0.30, and annualized covariance runs at 1451.6 %².
By 3-year correlation, GME places #23 of the 35 assets tracked against CVNA. Their recent paths diverged sharply: over the last 12 months CVNA outperformed by 19.7 percentage points (+0.8% for CVNA against -18.9% for GME).
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.
CVNA vs GME: side by side
| CVNA (Carvana) | GME (GameStop Corporation) | |
|---|---|---|
| 1-year return | +0.8% | -18.9% |
| 5-year return | +9.7% | -65.1% |
| Volatility (ann.) | 73.7% | 57.6% |
| Beta vs S&P 500 | 2.66 | 0.61 |
| Max drawdown (3Y) | -53.5% | -63.2% |
| Market cap | $82.1B | $8.2B |
| P/E (trailing) | 39.0 | 13.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | CVNA | GME |
|---|---|---|
| 2022 | -98.0% | -50.2% |
| 2023 | +1016.9% | -5.0% |
| 2024 | +284.1% | +78.8% |
| 2025 | +107.5% | -35.9% |
| 2026 | -12.2% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVNA and GME good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CVNA and GME?
As of 2026-08-27, the correlation of weekly returns between CVNA and GME is 0.34 over 3 years, 0.29 over 1 year and 0.30 over 5 years.
Is GME a good diversifier for CVNA?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cvna-vs-gme.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cvna-vs-gme/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVNA correlations · GME correlations
