CART vs. SHOP

Last updated Jun 4, 2026

CART (Maplebear Inc. Common Stock) and SHOP (Shopify Inc.) are both stocks. CART operates in Internet Retail (Consumer Cyclical), while SHOP operates in Software - Application (Technology). Over the past year, CART returned -13.16% vs 7.45% for SHOP. At a 0.20 correlation, their price movements are largely independent.

Performance

CART vs. SHOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Maplebear Inc. Common Stock (CART) and Shopify Inc. (SHOP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CART achieves a -11.12% return, which is significantly higher than SHOP's -29.84% return.

CART

• 1D: -1.87%
• 1M: -7.65%
• YTD: -11.12%
• 6M: -6.19%
• 1Y: -13.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHOP

• 1D: -3.48%
• 1M: -11.45%
• YTD: -29.84%
• 6M: -29.41%
• 1Y: 7.45%
• 3Y*: 24.67%
• 5Y*: -1.30%
• 10Y*: 43.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CART vs. SHOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CART Maplebear Inc. Common Stock	-11.12%	8.59%	76.48%	-30.36%
SHOP Shopify Inc.	-29.84%	51.39%	36.50%	33.55%

Correlation

The correlation between CART and SHOP is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023	0.20

The correlation between CART and SHOP shifts across timeframes, from 0.08 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap CART : $10.14B SHOP : $147.20B
EPS CART : $1.79 SHOP : $1.02
PE Ratio CART : 22.33 SHOP : 110.87
PEG Ratio CART : 0.09 SHOP : 0.21
PS Ratio CART : 2.80 SHOP : 16.06
PB Ratio CART : 4.61 SHOP : 11.78
Total Revenue (TTM) CART : $3.86B SHOP : $9.20B
Gross Profit (TTM) CART : $2.82B SHOP : $5.93B
EBITDA (TTM) CART : $672.00M SHOP : $1.60B

Return for Risk

CART vs. SHOP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CART

CART Risk / Return Rank: 27
CART Sharpe Ratio Rank: 27
CART Sortino Ratio Rank: 26
CART Omega Ratio Rank: 26
CART Calmar Ratio Rank: 28
CART Martin Ratio Rank: 29

SHOP

SHOP Risk / Return Rank: 44
SHOP Sharpe Ratio Rank: 45
SHOP Sortino Ratio Rank: 44
SHOP Omega Ratio Rank: 43
SHOP Calmar Ratio Rank: 44
SHOP Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CART vs. SHOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Maplebear Inc. Common Stock (CART) and Shopify Inc. (SHOP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CART	SHOP	Difference
Sharpe ratio Return per unit of total volatility	-0.31	0.13	-0.45
Sortino ratio Return per unit of downside risk	-0.17	0.60	-0.77
Omega ratio Gain probability vs. loss probability	0.98	1.07	-0.10
Calmar ratio Return relative to maximum drawdown	-0.36	0.16	-0.52
Martin ratio Return relative to average drawdown	-0.65	0.35	-1.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CART vs. SHOP - Sharpe Ratio Comparison

The current CART Sharpe Ratio is -0.31, which is lower than the SHOP Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of CART and SHOP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CART	SHOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.31	0.13	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.02	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.69	-0.55

Drawdowns

CART vs. SHOP - Drawdown Comparison

The maximum CART drawdown since its inception was -38.04%, smaller than the maximum SHOP drawdown of -84.82%. Use the drawdown chart below to compare losses from any high point for CART and SHOP.

Drawdown Indicators

	CART	SHOP	Difference
Max Drawdown Largest peak-to-trough decline	-38.04%	-84.82%	+46.78%
Max Drawdown (1Y) Largest decline over 1 year	-36.39%	-46.71%	+10.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-46.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-84.82%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-84.82%	—
Current Drawdown Current decline from peak	-24.78%	-36.91%	+12.13%
Average Drawdown Average peak-to-trough decline	-16.99%	-28.21%	+11.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.31%	21.36%	-1.05%

Volatility

CART vs. SHOP - Volatility Comparison

The current volatility for Maplebear Inc. Common Stock (CART) is 16.56%, while Shopify Inc. (SHOP) has a volatility of 24.71%. This indicates that CART experiences smaller price fluctuations and is considered to be less risky than SHOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CART	SHOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.56%	24.71%	-8.15%
Volatility (6M) Calculated over the trailing 6-month period	31.37%	43.60%	-12.23%
Volatility (1Y) Calculated over the trailing 1-year period	42.02%	57.17%	-15.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.68%	65.51%	-19.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.68%	59.05%	-13.37%

Dividends

CART vs. SHOP - Dividend Comparison

Neither CART nor SHOP has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both CART and SHOP in my portfolio?

CART and SHOP have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CART or SHOP?

SHOP has higher volatility (24.71%) compared to CART (16.56%). In terms of maximum drawdown, CART dropped -38.04% vs SHOP's -84.82%.

Which has better risk-adjusted returns?

SHOP currently has the higher Sharpe Ratio (0.13 vs -0.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.