AXON vs PLTR: Correlation
Measured on weekly returns over the past three years, Axon Enterprise (AXON) and Palantir Technologies (PLTR) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXON and PLTR?
On 3 years of weekly data the AXON/PLTR correlation comes out at 0.59, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.50, and annualized covariance runs at 2410.3 %².
In AXON's tracked universe of 35 assets, PLTR sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months PLTR outperformed by 39.2 percentage points (-20.6% for AXON against +18.6% for PLTR). The relationship is regime-dependent: the rolling one-year correlation swung between 0.11 and 0.75 over the past three years, so this pair behaves very differently depending on the market environment.
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 PLTR: side by side
| AXON (Axon Enterprise) | PLTR (Palantir Technologies) | |
|---|---|---|
| 1-year return | -20.6% | +18.6% |
| 5-year return | +216.9% | +621.8% |
| Volatility (ann.) | 57.4% | 71.3% |
| Beta vs S&P 500 | 1.51 | 2.47 |
| Max drawdown (3Y) | -60.3% | -48.2% |
| Market cap | $49.7B | $446.8B |
| P/E (trailing) | 250.5 | 151.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Industrials | Information Technology |
Year-by-year returns
| Year | AXON | PLTR |
|---|---|---|
| 2022 | +5.7% | -64.7% |
| 2023 | +55.7% | +167.4% |
| 2024 | +130.1% | +340.5% |
| 2025 | -4.4% | +135.0% |
| 2026 | +7.6% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXON and PLTR good diversifiers for each other?
Only partially. A correlation of 0.59 means AXON and PLTR 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 PLTR?
The AXON/PLTR correlation stands at 0.59 on a 3-year window (1 year: 0.54, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is PLTR a good diversifier for AXON?
Only partially. A correlation of 0.59 means AXON and PLTR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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.
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Related comparisons
Hubs: AXON correlations · PLTR correlations
