PAYO vs PIPR: Correlation
How closely do Payoneer Global Inc. (PAYO) and Piper Sandler Companies (PIPR) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYO and PIPR?
Over the past 3 years, PAYO and PIPR moved with a correlation of 0.50, which is moderate. The relationship has been stable: the 1-year correlation (0.40) sits close to the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 804.0 %².
Few assets follow PAYO as closely as PIPR, which ranks #1 of 14 tracked partners. The trailing year gives PAYO the advantage: +5.0% versus -9.2%, a 14.2-point spread.
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.
PAYO vs PIPR: side by side
| PAYO (Payoneer Global Inc.) | PIPR (Piper Sandler Companies) | |
|---|---|---|
| 1-year return | +5.0% | -9.2% |
| 5-year return | -27.7% | +143.0% |
| Volatility (ann.) | 48.1% | 33.6% |
| Beta vs S&P 500 | 1.27 | 1.35 |
| Max drawdown (3Y) | -61.4% | -38.8% |
| Market cap | $2.4B | $5.3B |
| P/E (trailing) | 50.9 | 17.3 |
| Dividend yield | 0.00% | 0.97% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAYO | PIPR |
|---|---|---|
| 2022 | -25.6% | -23.4% |
| 2023 | -4.8% | +37.8% |
| 2024 | +92.7% | +74.2% |
| 2025 | -44.0% | +15.5% |
| 2026 | +26.9% | -10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAYO and PIPR good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PAYO and PIPR?
As of 2026-08-27, the correlation of weekly returns between PAYO and PIPR is 0.50 over 3 years, 0.40 over 1 year and 0.35 over 5 years.
Is PIPR a good diversifier for PAYO?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/payo-vs-pipr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/payo-vs-pipr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAYO correlations · PIPR correlations
