MHH vs PAYO: Correlation
Measured on weekly returns over the past three years, Mastech Digital, Inc (MHH) and Payoneer Global Inc. (PAYO) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MHH and PAYO?
On 3 years of weekly data the MHH/PAYO correlation comes out at 0.42, moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.42). The 5-year figure is 0.35, and annualized covariance runs at 951.2 %².
PAYO is one of the assets that tracks MHH most closely: it ranks #1 out of the 10 assets we track against MHH. The trailing year gives PAYO the advantage: -3.0% versus +5.0%, a 8.0-point spread.
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.
MHH vs PAYO: side by side
| MHH (Mastech Digital, Inc) | PAYO (Payoneer Global Inc.) | |
|---|---|---|
| 1-year return | -3.0% | +5.0% |
| 5-year return | -56.7% | -27.7% |
| Volatility (ann.) | 46.7% | 48.1% |
| Beta vs S&P 500 | 0.80 | 1.27 |
| Max drawdown (3Y) | -65.6% | -61.4% |
| Market cap | $0.1B | $2.4B |
| P/E (trailing) | 43.4 | 50.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MHH | PAYO |
|---|---|---|
| 2022 | -35.5% | -25.6% |
| 2023 | -23.4% | -4.8% |
| 2024 | +76.7% | +92.7% |
| 2025 | -53.2% | -44.0% |
| 2026 | +5.6% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MHH and PAYO good diversifiers for each other?
Reasonably. At 0.42, MHH and PAYO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MHH and PAYO?
As of 2026-08-27, the correlation of weekly returns between MHH and PAYO is 0.42 over 3 years, 0.52 over 1 year and 0.35 over 5 years.
Is PAYO a good diversifier for MHH?
Reasonably. At 0.42, MHH and PAYO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MHH correlations · PAYO correlations
