BL vs CRM: Correlation
Measured on weekly returns over the past three years, BlackLine, Inc. (BL) and Salesforce (CRM) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BL and CRM?
On 3 years of weekly data the BL/CRM correlation comes out at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 885.1 %².
In BL's tracked universe of 15 assets, CRM sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months CRM outperformed by 39.9 percentage points (-38.3% for BL against +1.6% for CRM).
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.
BL vs CRM: side by side
| BL (BlackLine, Inc.) | CRM (Salesforce) | |
|---|---|---|
| 1-year return | -38.3% | +1.6% |
| 5-year return | -69.6% | -3.2% |
| Volatility (ann.) | 40.7% | 37.6% |
| Beta vs S&P 500 | 0.83 | 1.21 |
| Max drawdown (3Y) | -63.2% | -58.7% |
| Market cap | $2.0B | $207.4B |
| P/E (trailing) | 60.2 | 18.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BL | CRM |
|---|---|---|
| 2022 | -35.0% | -47.8% |
| 2023 | -7.2% | +98.5% |
| 2024 | -2.7% | +27.8% |
| 2025 | -9.0% | -20.2% |
| 2026 | -39.0% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BL and CRM good diversifiers for each other?
Only partially. A correlation of 0.58 means BL and CRM 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 BL and CRM?
As of 2026-08-27, the correlation of weekly returns between BL and CRM is 0.58 over 3 years, 0.66 over 1 year and 0.54 over 5 years.
Is CRM a good diversifier for BL?
Only partially. A correlation of 0.58 means BL and CRM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 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/bl-vs-crm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bl-vs-crm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BL correlations · CRM correlations
