BTI vs NOW: Correlation
How closely do British American Tobacco Industries, p.l.c. (BTI) and ServiceNow (NOW) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTI and NOW?
Over the past 3 years, BTI and NOW moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.36 versus -0.20 over 3 years. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -199.1 %².
Within BTI's tracked universe of 21 assets, NOW comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BTI ahead by 26.9 points (+4.8% versus -22.1%). One caveat on sizing: NOW is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTI vs NOW: side by side
| BTI (British American Tobacco Industries, p.l.c.) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | +4.8% | -22.1% |
| 5-year return | +119.4% | +7.9% |
| Volatility (ann.) | 22.5% | 43.2% |
| Beta vs S&P 500 | 0.06 | 1.38 |
| Max drawdown (3Y) | -15.3% | -64.5% |
| Market cap | $121.2B | $143.1B |
| P/E (trailing) | 14.5 | 78.7 |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BTI | NOW |
|---|---|---|
| 2022 | +15.1% | -40.2% |
| 2023 | -20.1% | +82.0% |
| 2024 | +35.4% | +50.1% |
| 2025 | +65.8% | -27.7% |
| 2026 | +2.2% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTI and NOW good diversifiers for each other?
Yes. With a correlation of -0.20, BTI and NOW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTI and NOW?
The BTI/NOW correlation stands at -0.20 on a 3-year window (1 year: -0.36, 5 years: -0.04), computed from weekly returns as of 2026-08-27.
Is NOW a good diversifier for BTI?
Yes. With a correlation of -0.20, BTI and NOW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/bti-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bti-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTI correlations · NOW correlations
