CVRX vs FRSH: Correlation
Measured on weekly returns over the past three years, CVRx, Inc. (CVRX) and Freshworks Inc. (FRSH) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CVRX and FRSH?
Over the past 3 years, CVRX and FRSH moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 1819.6 %².
FRSH is one of the assets that tracks CVRX most closely: it ranks #1 out of the 18 assets we track against CVRX. Correlation aside, the last 12 months split them widely, with FRSH ahead by 60.4 points (-59.8% versus +0.6%). Note the risk asymmetry: CVRX runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CVRX vs FRSH: side by side
| CVRX (CVRx, Inc.) | FRSH (Freshworks Inc.) | |
|---|---|---|
| 1-year return | -59.8% | +0.6% |
| 5-year return | -84.4% | -71.2% |
| Volatility (ann.) | 101.8% | 48.9% |
| Beta vs S&P 500 | 0.65 | 1.46 |
| Max drawdown (3Y) | -92.8% | -71.9% |
| Market cap | $0.1B | $3.6B |
| P/E (trailing) | – | 20.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CVRX | FRSH |
|---|---|---|
| 2022 | +50.0% | -44.0% |
| 2023 | +71.3% | +59.7% |
| 2024 | -59.7% | -31.2% |
| 2025 | -44.0% | -24.2% |
| 2026 | -57.2% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CVRX and FRSH good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CVRX and FRSH?
As of 2026-08-27, the correlation of weekly returns between CVRX and FRSH is 0.37 over 3 years, 0.33 over 1 year and 0.28 over 5 years.
Is FRSH a good diversifier for CVRX?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/cvrx-vs-frsh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cvrx-vs-frsh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CVRX correlations · FRSH correlations
