BILL vs FRSH: Correlation
Measured on weekly returns over the past three years, BILL Holdings, Inc. (BILL) and Freshworks Inc. (FRSH) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BILL and FRSH?
Across a 3-year window, the weekly returns of BILL and FRSH correlate at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. Stretching to 5 years gives 0.50, with an annualized covariance of 1416.1 %².
In BILL's tracked universe of 13 assets, FRSH sits right near the top at #1. Correlation aside, the last 12 months split them widely, with BILL ahead by 16.8 points (+17.4% versus +0.6%).
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.
BILL vs FRSH: side by side
| BILL (BILL Holdings, Inc.) | FRSH (Freshworks Inc.) | |
|---|---|---|
| 1-year return | +17.4% | +0.6% |
| 5-year return | -82.7% | -71.2% |
| Volatility (ann.) | 57.0% | 48.9% |
| Beta vs S&P 500 | 1.26 | 1.46 |
| Max drawdown (3Y) | -73.0% | -71.9% |
| Market cap | $4.9B | $3.6B |
| P/E (trailing) | – | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BILL | FRSH |
|---|---|---|
| 2022 | -56.3% | -44.0% |
| 2023 | -25.1% | +59.7% |
| 2024 | +3.8% | -31.2% |
| 2025 | -35.6% | -24.2% |
| 2026 | -10.4% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BILL and FRSH good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BILL and FRSH?
The BILL/FRSH correlation stands at 0.51 on a 3-year window (1 year: 0.44, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is FRSH a good diversifier for BILL?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/bill-vs-frsh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bill-vs-frsh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BILL correlations · FRSH correlations
