KVYO vs QTWO: Correlation
Klaviyo, Inc. Series A (KVYO) and Q2 Holdings, Inc. (QTWO) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KVYO and QTWO?
Over the past 3 years, KVYO and QTWO moved with a correlation of 0.50, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.71 versus 0.50 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 1272.1 %².
Among the 13 assets we track against KVYO, QTWO ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with QTWO ahead by 22.9 points (-38.9% versus -16.0%).
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.
KVYO vs QTWO: side by side
| KVYO (Klaviyo, Inc. Series A) | QTWO (Q2 Holdings, Inc.) | |
|---|---|---|
| 1-year return | -38.9% | -16.0% |
| 5-year return | n/a | -24.7% |
| Volatility (ann.) | 60.2% | 41.9% |
| Beta vs S&P 500 | 1.09 | 1.41 |
| Max drawdown (3Y) | -73.9% | -62.0% |
| Market cap | $5.9B | $4.1B |
| P/E (trailing) | 653.7 | 45.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KVYO | QTWO |
|---|---|---|
| 2022 | – | -66.2% |
| 2023 | – | +61.6% |
| 2024 | +48.5% | +131.9% |
| 2025 | -21.3% | -28.3% |
| 2026 | -39.6% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KVYO and QTWO good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KVYO and QTWO?
The KVYO/QTWO correlation stands at 0.50 on a 3-year window (1 year: 0.71, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is QTWO a good diversifier for KVYO?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/kvyo-vs-qtwo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/kvyo-vs-qtwo/)
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Related comparisons
Hubs: KVYO correlations · QTWO correlations
