EXFY vs UPST: Correlation
Expensify, Inc. (EXFY) and Upstart Holdings, Inc. (UPST) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXFY and UPST?
Across a 3-year window, the weekly returns of EXFY and UPST correlate at 0.52, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. Stretching to 5 years gives 0.42, with an annualized covariance of 3928.1 %².
In EXFY's tracked universe of 12 assets, UPST sits right near the top at #1. Correlation aside, the last 12 months split them widely, with EXFY ahead by 89.5 points (+33.3% versus -56.2%).
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.
EXFY vs UPST: side by side
| EXFY (Expensify, Inc.) | UPST (Upstart Holdings, Inc.) | |
|---|---|---|
| 1-year return | +33.3% | -56.2% |
| 5-year return | -93.8% | -85.9% |
| Volatility (ann.) | 83.7% | 91.0% |
| Beta vs S&P 500 | 2.04 | 3.51 |
| Max drawdown (3Y) | -83.4% | -72.7% |
| Market cap | $0.2B | $3.0B |
| P/E (trailing) | – | 58.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXFY | UPST |
|---|---|---|
| 2022 | -79.9% | -91.3% |
| 2023 | -72.0% | +209.1% |
| 2024 | +35.6% | +50.7% |
| 2025 | -54.9% | -29.0% |
| 2026 | +69.5% | -30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXFY and UPST good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EXFY and UPST?
The EXFY/UPST correlation stands at 0.52 on a 3-year window (1 year: 0.50, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is UPST a good diversifier for EXFY?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/exfy-vs-upst.json
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Related comparisons
Hubs: EXFY correlations · UPST correlations
