NDAQ vs PYPL: Correlation
Nasdaq, Inc. (NDAQ) and PayPal (PYPL) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NDAQ and PYPL?
Across a 3-year window, the weekly returns of NDAQ and PYPL correlate at 0.47, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.47). Stretching to 5 years gives 0.48, with an annualized covariance of 402.6 %².
By 3-year correlation, PYPL places #19 of the 35 assets tracked against NDAQ. Their recent paths diverged sharply: over the last 12 months NDAQ outperformed by 17.1 percentage points (+6.1% for NDAQ against -11.0% for PYPL). The relationship is regime-dependent: the rolling one-year correlation swung between 0.07 and 0.68 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since PYPL carries 1.6 times the volatility of the other side.
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.
NDAQ vs PYPL: side by side
| NDAQ (Nasdaq, Inc.) | PYPL (PayPal) | |
|---|---|---|
| 1-year return | +6.1% | -11.0% |
| 5-year return | +64.4% | -78.5% |
| Volatility (ann.) | 23.2% | 37.1% |
| Beta vs S&P 500 | 0.80 | 1.15 |
| Max drawdown (3Y) | -23.4% | -57.3% |
| Market cap | $55.5B | $52.6B |
| P/E (trailing) | 29.0 | 11.7 |
| Dividend yield | 1.13% | 0.91% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | NDAQ | PYPL |
|---|---|---|
| 2022 | -11.2% | -62.2% |
| 2023 | -3.7% | -13.8% |
| 2024 | +34.8% | +39.0% |
| 2025 | +27.2% | -31.4% |
| 2026 | +3.0% | +6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NDAQ and PYPL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NDAQ and PYPL?
The NDAQ/PYPL correlation stands at 0.47 on a 3-year window (1 year: 0.58, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is PYPL a good diversifier for NDAQ?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/ndaq-vs-pypl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ndaq-vs-pypl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NDAQ correlations · PYPL correlations
