FOUR vs ULS: Correlation
How closely do Shift4 Payments, Inc. (FOUR) and UL Solutions Inc. (ULS) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and ULS?
Over the past 3 years, FOUR and ULS moved with a correlation of 0.35, which is moderate. Little has changed lately, as the 1-year reading of 0.35 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 669.8 %².
ULS is close to the least connected end of FOUR's tracked universe, ranking #16 of 20. Correlation aside, the last 12 months split them widely, with ULS ahead by 71.6 points (-51.3% versus +20.3%).
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 ULS: side by side
| FOUR (Shift4 Payments, Inc.) | ULS (UL Solutions Inc.) | |
|---|---|---|
| 1-year return | -51.3% | +20.3% |
| 5-year return | -48.7% | n/a |
| Volatility (ann.) | 52.8% | 35.3% |
| Beta vs S&P 500 | 1.43 | 0.47 |
| Max drawdown (3Y) | -71.6% | -29.4% |
| Market cap | $3.5B | $15.3B |
| P/E (trailing) | 68.7 | 30.3 |
| Dividend yield | 0.00% | 0.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOUR | ULS |
|---|---|---|
| 2022 | -3.5% | – |
| 2023 | +32.9% | – |
| 2024 | +39.6% | – |
| 2025 | -39.3% | +59.3% |
| 2026 | -30.2% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and ULS good diversifiers for each other?
Reasonably. At 0.35, FOUR and ULS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FOUR and ULS?
The FOUR/ULS correlation stands at 0.35 on a 3-year window (1 year: 0.35, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ULS a good diversifier for FOUR?
Reasonably. At 0.35, FOUR and ULS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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.
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Related comparisons
Hubs: FOUR correlations · ULS correlations
