FOUR vs XPOF: Correlation
How closely do Shift4 Payments, Inc. (FOUR) and Xponential Fitness, Inc. (XPOF) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and XPOF?
On 3 years of weekly data the FOUR/XPOF correlation comes out at 0.44, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.44 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 2055.6 %².
By 3-year correlation, XPOF places #10 of the 20 assets tracked against FOUR. The trailing year gives XPOF the advantage: -51.3% versus -36.9%, a 14.4-point spread. Note the risk asymmetry: XPOF runs 1.7 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.
FOUR vs XPOF: side by side
| FOUR (Shift4 Payments, Inc.) | XPOF (Xponential Fitness, Inc.) | |
|---|---|---|
| 1-year return | -51.3% | -36.9% |
| 5-year return | -48.7% | -52.9% |
| Volatility (ann.) | 52.8% | 88.8% |
| Beta vs S&P 500 | 1.43 | 1.31 |
| Max drawdown (3Y) | -71.6% | -81.1% |
| Market cap | $3.5B | $0.3B |
| P/E (trailing) | 68.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOUR | XPOF |
|---|---|---|
| 2022 | -3.5% | +12.2% |
| 2023 | +32.9% | -43.8% |
| 2024 | +39.6% | +4.3% |
| 2025 | -39.3% | -38.8% |
| 2026 | -30.2% | -34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and XPOF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FOUR and XPOF?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.54 over the last year and 0.41 over 5 years.
Is XPOF a good diversifier for FOUR?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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-xpof.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/four-vs-xpof/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FOUR correlations · XPOF correlations
