KMX vs UPBD: Correlation
Measured on weekly returns over the past three years, CarMax Inc (KMX) and Upbound Group, Inc. (UPBD) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMX and UPBD?
Across a 3-year window, the weekly returns of KMX and UPBD correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 902.1 %².
Few assets follow KMX as closely as UPBD, which ranks #3 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with KMX ahead by 20.7 points (+0.9% versus -19.8%).
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.
KMX vs UPBD: side by side
| KMX (CarMax Inc) | UPBD (Upbound Group, Inc.) | |
|---|---|---|
| 1-year return | +0.9% | -19.8% |
| 5-year return | -50.5% | -60.7% |
| Volatility (ann.) | 41.9% | 41.4% |
| Beta vs S&P 500 | 0.94 | 1.23 |
| Max drawdown (3Y) | -65.4% | -54.2% |
| Market cap | – | $1.1B |
| P/E (trailing) | 38.9 | 12.6 |
| Dividend yield | 0.00% | 8.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KMX | UPBD |
|---|---|---|
| 2022 | -53.2% | -49.9% |
| 2023 | +26.0% | +57.9% |
| 2024 | +6.5% | -10.1% |
| 2025 | -52.7% | -35.4% |
| 2026 | +62.1% | +14.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMX and UPBD good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between KMX and UPBD?
The KMX/UPBD correlation stands at 0.52 on a 3-year window (1 year: 0.49, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is UPBD a good diversifier for KMX?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kmx-vs-upbd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kmx-vs-upbd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KMX correlations · UPBD correlations
