CRM vs PANW: Correlation
Measured on weekly returns over the past three years, Salesforce (CRM) and Palo Alto Networks (PANW) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRM and PANW?
On 3 years of weekly data the CRM/PANW correlation comes out at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.44 lands near the 3-year figure. The 5-year figure is 0.51, and annualized covariance runs at 813.7 %².
By 3-year correlation, PANW places #42 of the 68 assets tracked against CRM. The last year tells two different stories: PANW led by 102.5 percentage points, +1.6% for CRM against +104.1% for PANW. Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.76.
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 PANW: side by side
| CRM (Salesforce) | PANW (Palo Alto Networks) | |
|---|---|---|
| 1-year return | +1.6% | +104.1% |
| 5-year return | -3.2% | +400.7% |
| Volatility (ann.) | 37.6% | 42.0% |
| Beta vs S&P 500 | 1.21 | 1.32 |
| Max drawdown (3Y) | -58.7% | -36.0% |
| Market cap | $207.4B | $312.0B |
| P/E (trailing) | 18.8 | 294.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | CRM | PANW |
|---|---|---|
| 2022 | -47.8% | -24.8% |
| 2023 | +98.5% | +111.3% |
| 2024 | +27.8% | +23.4% |
| 2025 | -20.2% | +1.2% |
| 2026 | -4.4% | +107.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRM and PANW good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CRM and PANW?
The CRM/PANW correlation stands at 0.52 on a 3-year window (1 year: 0.44, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is PANW a good diversifier for CRM?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/crm-vs-panw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crm-vs-panw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRM correlations · PANW correlations
