FVRR vs UPWK: Correlation
Fiverr International Ltd. (FVRR) and Upwork Inc. (UPWK) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FVRR and UPWK?
Across a 3-year window, the weekly returns of FVRR and UPWK correlate at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.29 versus 0.41 over 3 years. Stretching to 5 years gives 0.57, with an annualized covariance of 1056.1 %².
By 3-year correlation, UPWK places #5 of the 12 assets tracked against FVRR. Correlation aside, the last 12 months split them widely, with UPWK ahead by 19.8 points (-59.5% versus -39.7%).
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.
FVRR vs UPWK: side by side
| FVRR (Fiverr International Ltd.) | UPWK (Upwork Inc.) | |
|---|---|---|
| 1-year return | -59.5% | -39.7% |
| 5-year return | -94.9% | -79.8% |
| Volatility (ann.) | 50.3% | 51.1% |
| Beta vs S&P 500 | 1.08 | 1.34 |
| Max drawdown (3Y) | -75.6% | -64.5% |
| Market cap | $0.3B | $1.1B |
| P/E (trailing) | 11.7 | 11.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FVRR | UPWK |
|---|---|---|
| 2022 | -74.4% | -69.4% |
| 2023 | -6.6% | +42.4% |
| 2024 | +16.6% | +10.0% |
| 2025 | -37.7% | +21.2% |
| 2026 | -52.5% | -55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FVRR and UPWK good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FVRR and UPWK?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.29 over the last year and 0.57 over 5 years.
Is UPWK a good diversifier for FVRR?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 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/fvrr-vs-upwk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fvrr-vs-upwk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FVRR correlations · UPWK correlations
