DT vs NOW: Correlation
Measured on weekly returns over the past three years, Dynatrace, Inc. (DT) and ServiceNow (NOW) carry a correlation of 0.65, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DT and NOW?
Across a 3-year window, the weekly returns of DT and NOW correlate at 0.65, strong. The link has tightened recently: the 1-year correlation (0.77) runs above the 3-year figure (0.65). Stretching to 5 years gives 0.68, with an annualized covariance of 962.2 %².
Few assets follow DT as closely as NOW, which ranks #1 of 26 tracked partners. The last year tells two different stories: DT led by 28.7 percentage points, +6.6% for DT against -22.1% for NOW.
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.
DT vs NOW: side by side
| DT (Dynatrace, Inc.) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | +6.6% | -22.1% |
| 5-year return | -21.5% | +7.9% |
| Volatility (ann.) | 34.3% | 43.2% |
| Beta vs S&P 500 | 1.02 | 1.38 |
| Max drawdown (3Y) | -48.2% | -64.5% |
| Market cap | $15.5B | $143.1B |
| P/E (trailing) | 102.8 | 78.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DT | NOW |
|---|---|---|
| 2022 | -36.5% | -40.2% |
| 2023 | +42.8% | +82.0% |
| 2024 | -0.6% | +50.1% |
| 2025 | -20.3% | -27.7% |
| 2026 | +23.3% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DT and NOW good diversifiers for each other?
To a limited degree. At 0.65 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 DT and NOW?
As of 2026-08-27, the correlation of weekly returns between DT and NOW is 0.65 over 3 years, 0.77 over 1 year and 0.68 over 5 years.
Is NOW a good diversifier for DT?
To a limited degree. At 0.65 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 0.65 mean?
On the −1 to +1 scale, 0.65 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/dt-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dt-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DT correlations · NOW correlations
