DSY vs PAYO: Correlation
Measured on weekly returns over the past three years, Big Tree Cloud Holdings Limited - Class A (DSY) and Payoneer Global Inc. (PAYO) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSY and PAYO?
On 3 years of weekly data the DSY/PAYO correlation comes out at 0.38, moderate. The past 12 months show a tighter link (0.55) than the 3-year average (0.38). The 5-year figure is n/a, and annualized covariance runs at 3046.0 %².
Among the 10 assets we track against DSY, PAYO ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PAYO outperformed by 86.8 percentage points (-81.8% for DSY against +5.0% for PAYO). One caveat on sizing: DSY is 3.5 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.
DSY vs PAYO: side by side
| DSY (Big Tree Cloud Holdings Limited - Class A) | PAYO (Payoneer Global Inc.) | |
|---|---|---|
| 1-year return | -81.8% | +5.0% |
| 5-year return | n/a | -27.7% |
| Volatility (ann.) | 168.9% | 48.1% |
| Beta vs S&P 500 | 1.72 | 1.27 |
| Max drawdown (3Y) | -99.2% | -61.4% |
| Market cap | – | $2.4B |
| P/E (trailing) | – | 50.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSY | PAYO |
|---|---|---|
| 2022 | – | -25.6% |
| 2023 | – | -4.8% |
| 2024 | -70.4% | +92.7% |
| 2025 | -91.3% | -44.0% |
| 2026 | -28.0% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSY and PAYO good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DSY and PAYO?
As of 2026-08-27, the correlation of weekly returns between DSY and PAYO is 0.38 over 3 years, 0.55 over 1 year and n/a over 5 years.
Is PAYO a good diversifier for DSY?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dsy-vs-payo.json
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[](https://www.pairbook.io/pair/dsy-vs-payo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DSY correlations · PAYO correlations
