The price correlation between AFRM and UPST is 0.73, meaning the two stocks tend to move in the same direction. This is not surprising, as both companies are in the same industry (digital lending) and have similar business models. However, it is important to note that correlation does not equal causation, and there are other factors that could be affecting the price of these stocks.
For example, both AFRM and UPST have been affected by rising interest rates, making it more expensive for consumers to borrow money. This has led to a decline in both stocks' prices in recent months.
In addition, both companies are facing increased competition from traditional banks and other fintech companies. This could also put downward pressure on their stock prices in the future.
Overall, the price correlation between AFRM and UPST is relatively high, but it is important to consider other factors when making investment decisions.
Here are some other factors that could affect the price of AFRM and UPST:
Consumer spending
Economic growth
Regulatory changes
New product launches
Acquisitions
It is important to monitor these factors and their impact on AFRM and UPST stock prices.
For example, both AFRM and UPST have been affected by rising interest rates, making it more expensive for consumers to borrow money. This has led to a decline in both stocks' prices in recent months.
In addition, both companies are facing increased competition from traditional banks and other fintech companies. This could also put downward pressure on their stock prices in the future.
Overall, the price correlation between AFRM and UPST is relatively high, but it is important to consider other factors when making investment decisions.
Here are some other factors that could affect the price of AFRM and UPST:
Consumer spending
Economic growth
Regulatory changes
New product launches
Acquisitions
It is important to monitor these factors and their impact on AFRM and UPST stock prices.