EYE vs UPWK: Correlation
Measured on weekly returns over the past three years, National Vision Holdings, Inc. (EYE) and Upwork Inc. (UPWK) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EYE and UPWK?
Over the past 3 years, EYE and UPWK moved with a correlation of 0.46, which is moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.46). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 1228.7 %².
In EYE's tracked universe of 10 assets, UPWK sits right near the top at #1. The trailing year gives EYE the advantage: -26.7% versus -39.7%, a 13.0-point spread.
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.
EYE vs UPWK: side by side
| EYE (National Vision Holdings, Inc.) | UPWK (Upwork Inc.) | |
|---|---|---|
| 1-year return | -26.7% | -39.7% |
| 5-year return | -69.8% | -79.8% |
| Volatility (ann.) | 52.1% | 51.1% |
| Beta vs S&P 500 | 0.86 | 1.34 |
| Max drawdown (3Y) | -59.3% | -64.5% |
| Market cap | $1.4B | $1.1B |
| P/E (trailing) | 30.3 | 11.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EYE | UPWK |
|---|---|---|
| 2022 | -19.2% | -69.4% |
| 2023 | -46.0% | +42.4% |
| 2024 | -50.2% | +10.0% |
| 2025 | +147.8% | +21.2% |
| 2026 | -30.8% | -55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EYE and UPWK good diversifiers for each other?
Reasonably. At 0.46, EYE and UPWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EYE and UPWK?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.35 over the last year and 0.35 over 5 years.
Is UPWK a good diversifier for EYE?
Reasonably. At 0.46, EYE and UPWK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/eye-vs-upwk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eye-vs-upwk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EYE correlations · UPWK correlations
