APPN vs FRSH: Correlation
Measured on weekly returns over the past three years, Appian Corporation (APPN) and Freshworks Inc. (FRSH) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPN and FRSH?
Across a 3-year window, the weekly returns of APPN and FRSH correlate at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 1536.6 %².
Few assets follow APPN as closely as FRSH, which ranks #3 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with APPN ahead by 39.7 points (+40.3% versus +0.6%).
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.
APPN vs FRSH: side by side
| APPN (Appian Corporation) | FRSH (Freshworks Inc.) | |
|---|---|---|
| 1-year return | +40.3% | +0.6% |
| 5-year return | -61.6% | -71.2% |
| Volatility (ann.) | 55.0% | 48.9% |
| Beta vs S&P 500 | 1.18 | 1.46 |
| Max drawdown (3Y) | -64.0% | -71.9% |
| Market cap | $3.0B | $3.6B |
| P/E (trailing) | – | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APPN | FRSH |
|---|---|---|
| 2022 | -50.1% | -44.0% |
| 2023 | +15.7% | +59.7% |
| 2024 | -12.4% | -31.2% |
| 2025 | +7.4% | -24.2% |
| 2026 | +16.9% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPN and FRSH good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between APPN and FRSH?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.58 over the last year and 0.60 over 5 years.
Is FRSH a good diversifier for APPN?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/appn-vs-frsh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/appn-vs-frsh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APPN correlations · FRSH correlations
