PAR vs PAY: Correlation
How closely do PAR Technology Corporation (PAR) and Paymentus Holdings, Inc. (PAY) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAR and PAY?
Over the past 3 years, PAR and PAY moved with a correlation of 0.42, which is moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.42). Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 1360.8 %².
Within PAR's tracked universe of 21 assets, PAY comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PAY ahead by 56.4 points (-63.2% versus -6.8%).
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.
PAR vs PAY: side by side
| PAR (PAR Technology Corporation) | PAY (Paymentus Holdings, Inc.) | |
|---|---|---|
| 1-year return | -63.2% | -6.8% |
| 5-year return | -71.7% | +38.6% |
| Volatility (ann.) | 56.2% | 57.0% |
| Beta vs S&P 500 | 1.72 | 1.24 |
| Max drawdown (3Y) | -85.4% | -49.3% |
| Market cap | $0.8B | $4.5B |
| P/E (trailing) | – | 60.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAR | PAY |
|---|---|---|
| 2022 | -50.6% | -77.1% |
| 2023 | +67.0% | +123.1% |
| 2024 | +66.9% | +82.8% |
| 2025 | -50.1% | -3.3% |
| 2026 | -47.0% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAR and PAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PAR and PAY?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.61 over the last year and 0.44 over 5 years.
Is PAY a good diversifier for PAR?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/par-vs-pay.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/par-vs-pay/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAR correlations · PAY correlations
