CRM vs SAP: Correlation
How closely do Salesforce (CRM) and SAP SE (SAP) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRM and SAP?
On 3 years of weekly data the CRM/SAP correlation comes out at 0.62, strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.62 over 3. The 5-year figure is 0.61, and annualized covariance runs at 685.6 %².
Within CRM's tracked universe of 68 assets, SAP comes in at #13 by 3-year correlation. The last year tells two different stories: CRM led by 19.8 percentage points, +1.6% for CRM against -18.2% for SAP.
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 SAP: side by side
| CRM (Salesforce) | SAP (SAP SE) | |
|---|---|---|
| 1-year return | +1.6% | -18.2% |
| 5-year return | -3.2% | +60.5% |
| Volatility (ann.) | 37.6% | 29.4% |
| Beta vs S&P 500 | 1.21 | 1.02 |
| Max drawdown (3Y) | -58.7% | -52.3% |
| Market cap | $207.4B | $255.3B |
| P/E (trailing) | 18.8 | 27.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CRM | SAP |
|---|---|---|
| 2022 | -47.8% | -24.2% |
| 2023 | +98.5% | +52.3% |
| 2024 | +27.8% | +61.3% |
| 2025 | -20.2% | -0.4% |
| 2026 | -4.4% | -7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRM and SAP good diversifiers for each other?
To a limited degree. At 0.62 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 SAP?
The CRM/SAP correlation stands at 0.62 on a 3-year window (1 year: 0.65, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is SAP a good diversifier for CRM?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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-sap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crm-vs-sap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRM correlations · SAP correlations
