PAGS vs XP: Correlation
How closely do PagSeguro Digital Ltd. Class A (PAGS) and XP Inc. (XP) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAGS and XP?
On 3 years of weekly data the PAGS/XP correlation comes out at 0.65, strong. The link has tightened recently: the 1-year correlation (0.78) runs above the 3-year figure (0.65). The 5-year figure is 0.58, and annualized covariance runs at 1126.0 %².
XP is one of the assets that tracks PAGS most closely: it ranks #2 out of the 14 assets we track against PAGS. Twelve-month performance is nearly a tie, at +5.6% for PAGS and +5.8% for XP.
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.
PAGS vs XP: side by side
| PAGS (PagSeguro Digital Ltd. Class A) | XP (XP Inc.) | |
|---|---|---|
| 1-year return | +5.6% | +5.8% |
| 5-year return | -84.4% | -58.9% |
| Volatility (ann.) | 42.1% | 41.0% |
| Beta vs S&P 500 | 1.17 | 1.18 |
| Max drawdown (3Y) | -57.6% | -56.6% |
| Market cap | $2.5B | $9.0B |
| P/E (trailing) | 6.2 | 9.0 |
| Dividend yield | 14.99% | 11.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAGS | XP |
|---|---|---|
| 2022 | -66.7% | -46.6% |
| 2023 | +42.7% | +79.6% |
| 2024 | -49.8% | -52.2% |
| 2025 | +58.7% | +39.5% |
| 2026 | -5.1% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAGS and XP good diversifiers for each other?
Only partially. A correlation of 0.65 means PAGS and XP 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 PAGS and XP?
As of 2026-08-27, the correlation of weekly returns between PAGS and XP is 0.65 over 3 years, 0.78 over 1 year and 0.58 over 5 years.
Is XP a good diversifier for PAGS?
Only partially. A correlation of 0.65 means PAGS and XP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
A reading of 0.65 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/pags-vs-xp.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pags-vs-xp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAGS correlations · XP correlations
