OUT vs QSR: Correlation
How closely do OUTFRONT Media Inc. (OUT) and Restaurant Brands International Inc. (QSR) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OUT and QSR?
Across a 3-year window, the weekly returns of OUT and QSR correlate at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 362.6 %².
By 3-year correlation, QSR places #7 of the 15 assets tracked against OUT. Their recent paths diverged sharply: over the last 12 months OUT outperformed by 37.5 percentage points (+66.8% for OUT against +29.3% for QSR). Note the risk asymmetry: OUT runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
OUT vs QSR: side by side
| OUT (OUTFRONT Media Inc.) | QSR (Restaurant Brands International Inc.) | |
|---|---|---|
| 1-year return | +66.8% | +29.3% |
| 5-year return | +65.9% | +45.4% |
| Volatility (ann.) | 37.2% | 20.7% |
| Beta vs S&P 500 | 1.22 | 0.32 |
| Max drawdown (3Y) | -32.0% | -24.5% |
| Market cap | $5.3B | $35.8B |
| P/E (trailing) | 21.9 | 19.9 |
| Dividend yield | 3.92% | 3.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OUT | QSR |
|---|---|---|
| 2022 | -34.4% | +10.7% |
| 2023 | -8.0% | +24.6% |
| 2024 | +40.6% | -13.8% |
| 2025 | +41.5% | +8.6% |
| 2026 | +27.3% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OUT and QSR good diversifiers for each other?
Reasonably. At 0.47, OUT and QSR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OUT and QSR?
The OUT/QSR correlation stands at 0.47 on a 3-year window (1 year: 0.48, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is QSR a good diversifier for OUT?
Reasonably. At 0.47, OUT and QSR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/out-vs-qsr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/out-vs-qsr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OUT correlations · QSR correlations
