SGHC vs TDUP: Correlation
Super Group (SGHC) Limited (SGHC) and ThredUp Inc. (TDUP) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SGHC and TDUP?
Over the past 3 years, SGHC and TDUP moved with a correlation of 0.46, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.16 versus 0.46 over 3 years. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 2651.2 %².
In SGHC's tracked universe of 10 assets, TDUP sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months SGHC outperformed by 91.6 percentage points (+14.9% for SGHC against -76.7% for TDUP). One caveat on sizing: TDUP is 2.4 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.
SGHC vs TDUP: side by side
| SGHC (Super Group (SGHC) Limited) | TDUP (ThredUp Inc.) | |
|---|---|---|
| 1-year return | +14.9% | -76.7% |
| 5-year return | +49.1% | -86.2% |
| Volatility (ann.) | 49.2% | 117.6% |
| Beta vs S&P 500 | 1.19 | 2.72 |
| Max drawdown (3Y) | -39.5% | -87.2% |
| Market cap | $7.0B | $0.4B |
| P/E (trailing) | 19.2 | – |
| Dividend yield | 1.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SGHC | TDUP |
|---|---|---|
| 2022 | -69.8% | -89.7% |
| 2023 | +5.7% | +71.8% |
| 2024 | +107.7% | -38.2% |
| 2025 | +93.7% | +359.7% |
| 2026 | +16.7% | -58.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SGHC and TDUP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SGHC and TDUP?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.16 over the last year and 0.35 over 5 years.
Is TDUP a good diversifier for SGHC?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sghc-vs-tdup.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sghc-vs-tdup/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SGHC correlations · TDUP correlations
