FOUR vs SG: Correlation
How closely do Shift4 Payments, Inc. (FOUR) and Sweetgreen, Inc. (SG) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and SG?
On 3 years of weekly data the FOUR/SG correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.42, and annualized covariance runs at 1979.3 %².
Among the 20 assets we track against FOUR, SG ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SG outperformed by 26.4 percentage points (-51.3% for FOUR against -24.9% for SG). Risk is not evenly split, since SG carries 1.5 times the volatility of the other side.
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 SG: side by side
| FOUR (Shift4 Payments, Inc.) | SG (Sweetgreen, Inc.) | |
|---|---|---|
| 1-year return | -51.3% | -24.9% |
| 5-year return | -48.7% | -86.3% |
| Volatility (ann.) | 52.8% | 79.8% |
| Beta vs S&P 500 | 1.43 | 1.83 |
| Max drawdown (3Y) | -71.6% | -89.3% |
| Market cap | $3.5B | $0.8B |
| P/E (trailing) | 68.7 | 75.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOUR | SG |
|---|---|---|
| 2022 | -3.5% | -73.2% |
| 2023 | +32.9% | +31.9% |
| 2024 | +39.6% | +183.7% |
| 2025 | -39.3% | -78.9% |
| 2026 | -30.2% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and SG good diversifiers for each other?
Reasonably. At 0.47, FOUR and SG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FOUR and SG?
The FOUR/SG correlation stands at 0.47 on a 3-year window (1 year: 0.51, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is SG a good diversifier for FOUR?
Reasonably. At 0.47, FOUR and SG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FOUR correlations · SG correlations
