PLTR vs SHOP: Correlation
How closely do Palantir Technologies (PLTR) and Shopify Inc. - Class A Subordinate Voting Shares (SHOP) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLTR and SHOP?
Over the past 3 years, PLTR and SHOP moved with a correlation of 0.65, which is strong. Little has changed lately, as the 1-year reading of 0.70 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 2833.5 %².
In PLTR's tracked universe of 36 assets, SHOP sits right near the top at #2. Over the last 12 months PLTR came out ahead by 8.3 percentage points (+18.6% against +10.3%).
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.
PLTR vs SHOP: side by side
| PLTR (Palantir Technologies) | SHOP (Shopify Inc. - Class A Subordinate Voting Shares) | |
|---|---|---|
| 1-year return | +18.6% | +10.3% |
| 5-year return | +621.8% | -0.4% |
| Volatility (ann.) | 71.3% | 61.1% |
| Beta vs S&P 500 | 2.47 | 2.40 |
| Max drawdown (3Y) | -48.2% | -46.7% |
| Market cap | $446.8B | $200.3B |
| P/E (trailing) | 151.2 | 102.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | PLTR | SHOP |
|---|---|---|
| 2022 | -64.7% | -74.8% |
| 2023 | +167.4% | +124.4% |
| 2024 | +340.5% | +36.5% |
| 2025 | +135.0% | +51.4% |
| 2026 | +4.6% | -4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLTR and SHOP good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PLTR and SHOP?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.70 over the last year and 0.57 over 5 years.
Is SHOP a good diversifier for PLTR?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 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/pltr-vs-shop.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pltr-vs-shop/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PLTR correlations · SHOP correlations
