PAPL vs SCHD: Correlation
Measured on weekly returns over the past three years, Pineapple Financial Inc. (PAPL) and Schwab US Dividend Equity ETF (SCHD) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAPL and SCHD?
Over the past 3 years, PAPL and SCHD moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.02) runs above the 3-year figure (-0.15). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -334.2 %².
Among the 51 assets we track against PAPL, SCHD ranks #11 by 3-year correlation. The last year tells two different stories: SCHD led by 100.3 percentage points, -70.7% for PAPL against +29.6% for SCHD. One caveat on sizing: PAPL is 14.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PAPL vs SCHD: side by side
| PAPL (Pineapple Financial Inc.) | SCHD (Schwab US Dividend Equity ETF) | |
|---|---|---|
| 1-year return | -70.7% | +29.6% |
| 5-year return | n/a | +60.9% |
| Volatility (ann.) | 181.2% | 12.9% |
| Beta vs S&P 500 | -0.73 | 0.52 |
| Max drawdown (3Y) | -99.4% | -16.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 3.13% |
| Expense ratio | – | 0.06% |
| Assets under management | – | $104.2B |
| Sector / category | US Listed | ETF · Dividend |
SCHD, Schwab ETFs's Large Value fund, carries $104.2B under management, 101 holdings, a 0.06% expense ratio, a 3.13% trailing dividend yield.
Year-by-year returns
| Year | PAPL | SCHD |
|---|---|---|
| 2022 | – | -3.3% |
| 2023 | – | +4.5% |
| 2024 | -74.7% | +11.7% |
| 2025 | -84.4% | +4.3% |
| 2026 | -25.5% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAPL and SCHD good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PAPL and SCHD?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with 0.02 over the last year and n/a over 5 years.
Is SCHD a good diversifier for PAPL?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 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/papl-vs-schd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/papl-vs-schd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAPL correlations · SCHD correlations
