CRM vs ESTC: Correlation
How closely do Salesforce (CRM) and Elastic N.V. (ESTC) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRM and ESTC?
Over the past 3 years, CRM and ESTC moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 1181.8 %².
Among the 68 assets we track against CRM, ESTC ranks #25 by 3-year correlation. Their 12-month results are close: +1.6% for CRM against +0.5% for ESTC.
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.
CRM vs ESTC: side by side
| CRM (Salesforce) | ESTC (Elastic N.V.) | |
|---|---|---|
| 1-year return | +1.6% | +0.5% |
| 5-year return | -3.2% | -47.3% |
| Volatility (ann.) | 37.6% | 55.1% |
| Beta vs S&P 500 | 1.21 | 1.44 |
| Max drawdown (3Y) | -58.7% | -67.6% |
| Market cap | $207.4B | $8.7B |
| P/E (trailing) | 18.8 | 23.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CRM | ESTC |
|---|---|---|
| 2022 | -47.8% | -58.2% |
| 2023 | +98.5% | +118.8% |
| 2024 | +27.8% | -12.1% |
| 2025 | -20.2% | -23.9% |
| 2026 | -4.4% | +11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRM and ESTC good diversifiers for each other?
To a limited degree. At 0.57 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 CRM and ESTC?
As of 2026-08-27, the correlation of weekly returns between CRM and ESTC is 0.57 over 3 years, 0.57 over 1 year and 0.64 over 5 years.
Is ESTC a good diversifier for CRM?
To a limited degree. At 0.57 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 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crm-vs-estc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crm-vs-estc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CRM correlations · ESTC correlations
