PIPR vs XMTR: Correlation
How closely do Piper Sandler Companies (PIPR) and Xometry, Inc. (XMTR) 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 PIPR and XMTR?
Across a 3-year window, the weekly returns of PIPR and XMTR correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 1406.7 %².
Among the 23 assets we track against PIPR, XMTR ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XMTR ahead by 112.1 points (-9.2% versus +102.9%). One caveat on sizing: XMTR is 2.5 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.
PIPR vs XMTR: side by side
| PIPR (Piper Sandler Companies) | XMTR (Xometry, Inc.) | |
|---|---|---|
| 1-year return | -9.2% | +102.9% |
| 5-year return | +143.0% | +31.7% |
| Volatility (ann.) | 33.6% | 83.8% |
| Beta vs S&P 500 | 1.35 | 2.60 |
| Max drawdown (3Y) | -38.8% | -70.4% |
| Market cap | $5.3B | $5.5B |
| P/E (trailing) | 17.3 | – |
| Dividend yield | 0.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PIPR | XMTR |
|---|---|---|
| 2022 | -23.4% | -37.1% |
| 2023 | +37.8% | +11.4% |
| 2024 | +74.2% | +18.8% |
| 2025 | +15.5% | +39.4% |
| 2026 | -10.2% | +61.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIPR and XMTR 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 PIPR and XMTR?
As of 2026-08-27, the correlation of weekly returns between PIPR and XMTR is 0.50 over 3 years, 0.44 over 1 year and 0.39 over 5 years.
Is XMTR a good diversifier for PIPR?
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?
A reading of 0.50 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/pipr-vs-xmtr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pipr-vs-xmtr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PIPR correlations · XMTR correlations
