AXON vs NOW: Correlation
Axon Enterprise (AXON) and ServiceNow (NOW) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXON and NOW?
Over the past 3 years, AXON and NOW moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.62 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 1286.5 %².
Among the 35 assets we track against AXON, NOW ranks #6 by 3-year correlation. Their 12-month results are close: -20.6% for AXON against -22.1% for NOW. On a rolling one-year basis the correlation drifted between 0.25 and 0.63, a moderate band.
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 NOW: side by side
| AXON (Axon Enterprise) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | -20.6% | -22.1% |
| 5-year return | +216.9% | +7.9% |
| Volatility (ann.) | 57.4% | 43.2% |
| Beta vs S&P 500 | 1.51 | 1.38 |
| Max drawdown (3Y) | -60.3% | -64.5% |
| Market cap | $49.7B | $143.1B |
| P/E (trailing) | 250.5 | 78.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Industrials | Information Technology |
Year-by-year returns
| Year | AXON | NOW |
|---|---|---|
| 2022 | +5.7% | -40.2% |
| 2023 | +55.7% | +82.0% |
| 2024 | +130.1% | +50.1% |
| 2025 | -4.4% | -27.7% |
| 2026 | +7.6% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXON and NOW good diversifiers for each other?
Only partially. A correlation of 0.52 means AXON and NOW 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 NOW?
The AXON/NOW correlation stands at 0.52 on a 3-year window (1 year: 0.62, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is NOW a good diversifier for AXON?
Only partially. A correlation of 0.52 means AXON and NOW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 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/axon-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axon-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AXON correlations · NOW correlations
