RELY vs RNG: Correlation
How closely do Remitly Global, Inc. (RELY) and RingCentral, Inc. (RNG) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RELY and RNG?
Over the past 3 years, RELY and RNG moved with a correlation of 0.43, which is moderate. The link has tightened recently: the 1-year correlation (0.61) runs above the 3-year figure (0.43). Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 1169.3 %².
Few assets follow RELY as closely as RNG, which ranks #2 of 15 tracked partners. Correlation aside, the last 12 months split them widely, with RNG ahead by 83.0 points (+41.3% versus +124.3%).
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.
RELY vs RNG: side by side
| RELY (Remitly Global, Inc.) | RNG (RingCentral, Inc.) | |
|---|---|---|
| 1-year return | +41.3% | +124.3% |
| 5-year return | -46.4% | -73.1% |
| Volatility (ann.) | 52.6% | 52.2% |
| Beta vs S&P 500 | 0.90 | 1.54 |
| Max drawdown (3Y) | -57.9% | -48.6% |
| Market cap | $5.5B | $5.7B |
| P/E (trailing) | 18.6 | 52.7 |
| Dividend yield | 0.00% | 0.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RELY | RNG |
|---|---|---|
| 2022 | -44.5% | -81.1% |
| 2023 | +69.6% | -4.1% |
| 2024 | +16.2% | +3.1% |
| 2025 | -38.9% | -17.5% |
| 2026 | +88.3% | +138.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RELY and RNG good diversifiers for each other?
Reasonably. At 0.43, RELY and RNG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RELY and RNG?
The RELY/RNG correlation stands at 0.43 on a 3-year window (1 year: 0.61, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is RNG a good diversifier for RELY?
Reasonably. At 0.43, RELY and RNG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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/rely-vs-rng.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rely-vs-rng/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RELY correlations · RNG correlations
