LUMN vs UPST: Correlation
Lumen Technologies, Inc. (LUMN) and Upstart Holdings, Inc. (UPST) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LUMN and UPST?
On 3 years of weekly data the LUMN/UPST correlation comes out at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.35 over 3 years. The 5-year figure is 0.30, and annualized covariance runs at 3064.3 %².
In LUMN's tracked universe of 11 assets, UPST sits right near the top at #3. Correlation aside, the last 12 months split them widely, with LUMN ahead by 72.7 points (+16.5% versus -56.2%).
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.
LUMN vs UPST: side by side
| LUMN (Lumen Technologies, Inc.) | UPST (Upstart Holdings, Inc.) | |
|---|---|---|
| 1-year return | +16.5% | -56.2% |
| 5-year return | -44.0% | -85.9% |
| Volatility (ann.) | 95.4% | 91.0% |
| Beta vs S&P 500 | 0.90 | 3.51 |
| Max drawdown (3Y) | -69.7% | -72.7% |
| Market cap | $6.3B | $3.0B |
| P/E (trailing) | – | 58.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LUMN | UPST |
|---|---|---|
| 2022 | -55.5% | -91.3% |
| 2023 | -64.9% | +209.1% |
| 2024 | +190.2% | +50.7% |
| 2025 | +46.3% | -29.0% |
| 2026 | -21.0% | -30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LUMN and UPST good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LUMN and UPST?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.18 over the last year and 0.30 over 5 years.
Is UPST a good diversifier for LUMN?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
A reading of 0.35 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/lumn-vs-upst.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lumn-vs-upst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LUMN correlations · UPST correlations
