PYPL vs QTWO: Correlation
PayPal (PYPL) and Q2 Holdings, Inc. (QTWO) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYPL and QTWO?
Over the past 3 years, PYPL and QTWO moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.48). Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 741.8 %².
Among the 28 assets we track against PYPL, QTWO ranks #12 by 3-year correlation. On 12-month performance PYPL holds a 5.0-point edge, -11.0% against -16.0%.
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.
PYPL vs QTWO: side by side
| PYPL (PayPal) | QTWO (Q2 Holdings, Inc.) | |
|---|---|---|
| 1-year return | -11.0% | -16.0% |
| 5-year return | -78.5% | -24.7% |
| Volatility (ann.) | 37.1% | 41.9% |
| Beta vs S&P 500 | 1.15 | 1.41 |
| Max drawdown (3Y) | -57.3% | -62.0% |
| Market cap | $52.6B | $4.1B |
| P/E (trailing) | 11.7 | 45.9 |
| Dividend yield | 0.91% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PYPL | QTWO |
|---|---|---|
| 2022 | -62.2% | -66.2% |
| 2023 | -13.8% | +61.6% |
| 2024 | +39.0% | +131.9% |
| 2025 | -31.4% | -28.3% |
| 2026 | +6.0% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYPL and QTWO good diversifiers for each other?
Reasonably. At 0.48, PYPL and QTWO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PYPL and QTWO?
The PYPL/QTWO correlation stands at 0.48 on a 3-year window (1 year: 0.35, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is QTWO a good diversifier for PYPL?
Reasonably. At 0.48, PYPL and QTWO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 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
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Related comparisons
Hubs: PYPL correlations · QTWO correlations
