FIS vs SPSC: Correlation
How closely do Fidelity National Information Services (FIS) and SPS Commerce, Inc. (SPSC) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIS and SPSC?
Over the past 3 years, FIS and SPSC moved with a correlation of 0.51, which is moderate. The past 12 months show a tighter link (0.64) than the 3-year average (0.51). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 611.7 %².
By 3-year correlation, SPSC places #5 of the 33 assets tracked against FIS. Over the last 12 months SPSC came out ahead by 14.6 percentage points (-40.0% against -25.4%). Note the risk asymmetry: SPSC runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FIS vs SPSC: side by side
| FIS (Fidelity National Information Services) | SPSC (SPS Commerce, Inc.) | |
|---|---|---|
| 1-year return | -40.0% | -25.4% |
| 5-year return | -63.9% | -38.6% |
| Volatility (ann.) | 27.2% | 44.2% |
| Beta vs S&P 500 | 0.57 | 1.10 |
| Max drawdown (3Y) | -56.5% | -76.8% |
| Market cap | $20.9B | $3.0B |
| P/E (trailing) | 6.2 | 40.5 |
| Dividend yield | 4.13% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FIS | SPSC |
|---|---|---|
| 2022 | -36.5% | -9.8% |
| 2023 | -8.2% | +50.9% |
| 2024 | +37.0% | -5.1% |
| 2025 | -15.8% | -51.6% |
| 2026 | -37.8% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIS and SPSC good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FIS and SPSC?
As of 2026-08-27, the correlation of weekly returns between FIS and SPSC is 0.51 over 3 years, 0.64 over 1 year and 0.41 over 5 years.
Is SPSC a good diversifier for FIS?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: FIS correlations · SPSC correlations
