EXPE vs SHOP: Correlation
Expedia Group (EXPE) and Shopify Inc. - Class A Subordinate Voting Shares (SHOP) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPE and SHOP?
Over the past 3 years, EXPE and SHOP moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 1291.9 %².
Within EXPE's tracked universe of 33 assets, SHOP comes in at #12 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EXPE ahead by 41.2 points (+51.5% versus +10.3%).
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.
EXPE vs SHOP: side by side
| EXPE (Expedia Group) | SHOP (Shopify Inc. - Class A Subordinate Voting Shares) | |
|---|---|---|
| 1-year return | +51.5% | +10.3% |
| 5-year return | +123.9% | -0.4% |
| Volatility (ann.) | 42.7% | 61.1% |
| Beta vs S&P 500 | 1.33 | 2.40 |
| Max drawdown (3Y) | -37.4% | -46.7% |
| Market cap | $38.3B | $200.3B |
| P/E (trailing) | 21.0 | 102.2 |
| Dividend yield | 0.53% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | EXPE | SHOP |
|---|---|---|
| 2022 | -51.5% | -74.8% |
| 2023 | +73.3% | +124.4% |
| 2024 | +22.8% | +36.5% |
| 2025 | +53.3% | +51.4% |
| 2026 | +13.1% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPE and SHOP good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between EXPE and SHOP?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.40 over the last year and 0.47 over 5 years.
Is SHOP a good diversifier for EXPE?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/expe-vs-shop.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/expe-vs-shop/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXPE correlations · SHOP correlations
