APPN vs VEEV: Correlation
Appian Corporation (APPN) and Veeva Systems (VEEV) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPN and VEEV?
On 3 years of weekly data the APPN/VEEV correlation comes out at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.63) sits close to the 3-year figure. The 5-year figure is 0.56, and annualized covariance runs at 1171.1 %².
Among the 13 assets we track against APPN, VEEV ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with APPN ahead by 44.2 points (+40.3% versus -3.9%).
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 VEEV: side by side
| APPN (Appian Corporation) | VEEV (Veeva Systems) | |
|---|---|---|
| 1-year return | +40.3% | -3.9% |
| 5-year return | -61.6% | -15.2% |
| Volatility (ann.) | 55.0% | 40.0% |
| Beta vs S&P 500 | 1.18 | 0.99 |
| Max drawdown (3Y) | -64.0% | -50.5% |
| Market cap | $3.0B | $45.8B |
| P/E (trailing) | – | 46.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | APPN | VEEV |
|---|---|---|
| 2022 | -50.1% | -36.8% |
| 2023 | +15.7% | +19.3% |
| 2024 | -12.4% | +9.2% |
| 2025 | +7.4% | +6.2% |
| 2026 | +16.9% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPN and VEEV good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between APPN and VEEV?
The APPN/VEEV correlation stands at 0.53 on a 3-year window (1 year: 0.63, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is VEEV a good diversifier for APPN?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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
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Related comparisons
Hubs: APPN correlations · VEEV correlations
