NU vs PAGS: Correlation
Measured on weekly returns over the past three years, Nu Holdings Ltd. Class A (NU) and PagSeguro Digital Ltd. Class A (PAGS) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NU and PAGS?
Across a 3-year window, the weekly returns of NU and PAGS correlate at 0.51, moderate. The past 12 months show a tighter link (0.69) than the 3-year average (0.51). Stretching to 5 years gives 0.43, with an annualized covariance of 842.2 %².
By 3-year correlation, PAGS places #4 of the 10 assets tracked against NU. Twelve-month performance is nearly a tie, at +1.6% for NU and +5.6% for PAGS.
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.
NU vs PAGS: side by side
| NU (Nu Holdings Ltd. Class A) | PAGS (PagSeguro Digital Ltd. Class A) | |
|---|---|---|
| 1-year return | +1.6% | +5.6% |
| 5-year return | +44.0% | -84.4% |
| Volatility (ann.) | 39.4% | 42.1% |
| Beta vs S&P 500 | 1.26 | 1.17 |
| Max drawdown (3Y) | -39.6% | -57.6% |
| Market cap | $71.9B | $2.5B |
| P/E (trailing) | 20.7 | 6.2 |
| Dividend yield | 0.00% | 14.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NU | PAGS |
|---|---|---|
| 2022 | -56.6% | -66.7% |
| 2023 | +104.7% | +42.7% |
| 2024 | +24.4% | -49.8% |
| 2025 | +61.6% | +58.7% |
| 2026 | -11.1% | -5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NU and PAGS good diversifiers for each other?
Only partially. A correlation of 0.51 means NU and PAGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NU and PAGS?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.69 over the last year and 0.43 over 5 years.
Is PAGS a good diversifier for NU?
Only partially. A correlation of 0.51 means NU and PAGS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/nu-vs-pags.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nu-vs-pags/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NU correlations · PAGS correlations
