APPN vs QLYS: Correlation
How closely do Appian Corporation (APPN) and Qualys, Inc. (QLYS) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPN and QLYS?
Across a 3-year window, the weekly returns of APPN and QLYS correlate at 0.57, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.57). Stretching to 5 years gives 0.56, with an annualized covariance of 1370.9 %².
Within APPN's tracked universe of 13 assets, QLYS comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +40.3% against +40.0%.
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 QLYS: side by side
| APPN (Appian Corporation) | QLYS (Qualys, Inc.) | |
|---|---|---|
| 1-year return | +40.3% | +40.0% |
| 5-year return | -61.6% | +62.5% |
| Volatility (ann.) | 55.0% | 43.5% |
| Beta vs S&P 500 | 1.18 | 1.09 |
| Max drawdown (3Y) | -64.0% | -63.0% |
| Market cap | $3.0B | $6.5B |
| P/E (trailing) | – | 30.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APPN | QLYS |
|---|---|---|
| 2022 | -50.1% | -18.2% |
| 2023 | +15.7% | +74.9% |
| 2024 | -12.4% | -28.6% |
| 2025 | +7.4% | -5.2% |
| 2026 | +16.9% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPN and QLYS good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APPN and QLYS?
As of 2026-08-27, the correlation of weekly returns between APPN and QLYS is 0.57 over 3 years, 0.69 over 1 year and 0.56 over 5 years.
Is QLYS a good diversifier for APPN?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/appn-vs-qlys.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/appn-vs-qlys/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APPN correlations · QLYS correlations
