FOUR vs PAR: Correlation
How closely do Shift4 Payments, Inc. (FOUR) and PAR Technology Corporation (PAR) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and PAR?
On 3 years of weekly data the FOUR/PAR correlation comes out at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 1734.5 %².
PAR is one of the assets that tracks FOUR most closely: it ranks #1 out of the 20 assets we track against FOUR. The trailing year gives FOUR the advantage: -51.3% versus -63.2%, a 11.9-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.
FOUR vs PAR: side by side
| FOUR (Shift4 Payments, Inc.) | PAR (PAR Technology Corporation) | |
|---|---|---|
| 1-year return | -51.3% | -63.2% |
| 5-year return | -48.7% | -71.7% |
| Volatility (ann.) | 52.8% | 56.2% |
| Beta vs S&P 500 | 1.43 | 1.72 |
| Max drawdown (3Y) | -71.6% | -85.4% |
| Market cap | $3.5B | $0.8B |
| P/E (trailing) | 68.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOUR | PAR |
|---|---|---|
| 2022 | -3.5% | -50.6% |
| 2023 | +32.9% | +67.0% |
| 2024 | +39.6% | +66.9% |
| 2025 | -39.3% | -50.1% |
| 2026 | -30.2% | -47.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and PAR good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FOUR and PAR?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.56 over the last year and 0.55 over 5 years.
Is PAR a good diversifier for FOUR?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/four-vs-par.json
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[](https://www.pairbook.io/pair/four-vs-par/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FOUR correlations · PAR correlations
