DDOG vs ESTC: Correlation
Measured on weekly returns over the past three years, Datadog (DDOG) and Elastic N.V. (ESTC) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DDOG and ESTC?
On 3 years of weekly data the DDOG/ESTC correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.62, and annualized covariance runs at 1511.7 %².
Among the 30 assets we track against DDOG, ESTC ranks #9 by 3-year correlation. The last year tells two different stories: DDOG led by 83.9 percentage points, +84.4% for DDOG 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.
DDOG vs ESTC: side by side
| DDOG (Datadog) | ESTC (Elastic N.V.) | |
|---|---|---|
| 1-year return | +84.4% | +0.5% |
| 5-year return | +77.8% | -47.3% |
| Volatility (ann.) | 54.6% | 55.1% |
| Beta vs S&P 500 | 1.37 | 1.44 |
| Max drawdown (3Y) | -48.6% | -67.6% |
| Market cap | $87.2B | $8.7B |
| P/E (trailing) | 458.4 | 23.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | DDOG | ESTC |
|---|---|---|
| 2022 | -58.7% | -58.2% |
| 2023 | +65.1% | +118.8% |
| 2024 | +17.7% | -12.1% |
| 2025 | -4.8% | -23.9% |
| 2026 | +78.6% | +11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DDOG and ESTC good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DDOG and ESTC?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.51 over the last year and 0.62 over 5 years.
Is ESTC a good diversifier for DDOG?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/ddog-vs-estc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ddog-vs-estc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DDOG correlations · ESTC correlations
