AXON vs HUBS: Correlation
Measured on weekly returns over the past three years, Axon Enterprise (AXON) and HubSpot, Inc. (HUBS) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXON and HUBS?
On 3 years of weekly data the AXON/HUBS correlation comes out at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 1525.0 %².
Among the 35 assets we track against AXON, HUBS ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AXON outperformed by 24.9 percentage points (-20.6% for AXON against -45.5% for HUBS).
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.
AXON vs HUBS: side by side
| AXON (Axon Enterprise) | HUBS (HubSpot, Inc.) | |
|---|---|---|
| 1-year return | -20.6% | -45.5% |
| 5-year return | +216.9% | -63.5% |
| Volatility (ann.) | 57.4% | 50.4% |
| Beta vs S&P 500 | 1.51 | 1.18 |
| Max drawdown (3Y) | -60.3% | -79.2% |
| Market cap | $49.7B | $13.1B |
| P/E (trailing) | 250.5 | 90.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | AXON | HUBS |
|---|---|---|
| 2022 | +5.7% | -56.1% |
| 2023 | +55.7% | +100.8% |
| 2024 | +130.1% | +20.0% |
| 2025 | -4.4% | -42.4% |
| 2026 | +7.6% | -36.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXON and HUBS good diversifiers for each other?
Only partially. A correlation of 0.53 means AXON and HUBS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AXON and HUBS?
The AXON/HUBS correlation stands at 0.53 on a 3-year window (1 year: 0.58, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is HUBS a good diversifier for AXON?
Only partially. A correlation of 0.53 means AXON and HUBS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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/axon-vs-hubs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axon-vs-hubs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXON correlations · HUBS correlations
