PIPR vs STEP: Correlation
Measured on weekly returns over the past three years, Piper Sandler Companies (PIPR) and StepStone Group Inc. (STEP) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIPR and STEP?
On 3 years of weekly data the PIPR/STEP correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 797.0 %².
Among the 23 assets we track against PIPR, STEP ranks #11 by 3-year correlation. On 12-month performance PIPR holds a 7.9-point edge, -9.2% against -17.1%.
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.
PIPR vs STEP: side by side
| PIPR (Piper Sandler Companies) | STEP (StepStone Group Inc.) | |
|---|---|---|
| 1-year return | -9.2% | -17.1% |
| 5-year return | +143.0% | +20.7% |
| Volatility (ann.) | 33.6% | 37.9% |
| Beta vs S&P 500 | 1.35 | 1.43 |
| Max drawdown (3Y) | -38.8% | -46.9% |
| Market cap | $5.3B | $6.5B |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.97% | 2.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PIPR | STEP |
|---|---|---|
| 2022 | -23.4% | -37.8% |
| 2023 | +37.8% | +31.7% |
| 2024 | +74.2% | +85.9% |
| 2025 | +15.5% | +13.6% |
| 2026 | -10.2% | -19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIPR and STEP good diversifiers for each other?
To a limited degree. At 0.63 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 PIPR and STEP?
The PIPR/STEP correlation stands at 0.63 on a 3-year window (1 year: 0.53, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is STEP a good diversifier for PIPR?
To a limited degree. At 0.63 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 0.63 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/pipr-vs-step.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pipr-vs-step/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PIPR correlations · STEP correlations
