FOUR vs NU: Correlation
How closely do Shift4 Payments, Inc. (FOUR) and Nu Holdings Ltd. Class A (NU) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and NU?
Across a 3-year window, the weekly returns of FOUR and NU correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.39, with an annualized covariance of 1014.8 %².
Among the 20 assets we track against FOUR, NU ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NU outperformed by 52.9 percentage points (-51.3% for FOUR against +1.6% for NU).
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.
FOUR vs NU: side by side
| FOUR (Shift4 Payments, Inc.) | NU (Nu Holdings Ltd. Class A) | |
|---|---|---|
| 1-year return | -51.3% | +1.6% |
| 5-year return | -48.7% | +44.0% |
| Volatility (ann.) | 52.8% | 39.4% |
| Beta vs S&P 500 | 1.43 | 1.26 |
| Max drawdown (3Y) | -71.6% | -39.6% |
| Market cap | $3.5B | $71.9B |
| P/E (trailing) | 68.7 | 20.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOUR | NU |
|---|---|---|
| 2022 | -3.5% | -56.6% |
| 2023 | +32.9% | +104.7% |
| 2024 | +39.6% | +24.4% |
| 2025 | -39.3% | +61.6% |
| 2026 | -30.2% | -11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and NU good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FOUR and NU?
The FOUR/NU correlation stands at 0.49 on a 3-year window (1 year: 0.57, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is NU a good diversifier for FOUR?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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/four-vs-nu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/four-vs-nu/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FOUR correlations · NU correlations
