PYPL vs SPGI: Correlation
PayPal (PYPL) and S&P Global (SPGI) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYPL and SPGI?
Over the past 3 years, PYPL and SPGI moved with a correlation of 0.51, which is moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.51 over 3. Over 5 years the correlation is 0.51, and the annualized covariance of weekly returns is 463.9 %².
By 3-year correlation, SPGI places #4 of the 28 assets tracked against PYPL. Twelve-month performance is nearly a tie, at -11.0% for PYPL and -15.6% for SPGI. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.14 to 0.65. Note the risk asymmetry: PYPL runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SPGI: side by side
| PYPL (PayPal) | SPGI (S&P Global) | |
|---|---|---|
| 1-year return | -11.0% | -15.6% |
| 5-year return | -78.5% | +8.1% |
| Volatility (ann.) | 37.1% | 24.7% |
| Beta vs S&P 500 | 1.15 | 0.86 |
| Max drawdown (3Y) | -57.3% | -30.5% |
| Market cap | $52.6B | $128.4B |
| P/E (trailing) | 11.7 | 26.6 |
| Dividend yield | 0.91% | 0.88% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | PYPL | SPGI |
|---|---|---|
| 2022 | -62.2% | -28.4% |
| 2023 | -13.8% | +32.8% |
| 2024 | +39.0% | +13.9% |
| 2025 | -31.4% | +5.7% |
| 2026 | +6.0% | -11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYPL and SPGI good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PYPL and SPGI?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.58 over the last year and 0.51 over 5 years.
Is SPGI a good diversifier for PYPL?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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.
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Related comparisons
Hubs: PYPL correlations · SPGI correlations
