EGHT vs RNG: Correlation
Measured on weekly returns over the past three years, 8x8 Inc (EGHT) and RingCentral, Inc. (RNG) 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 EGHT and RNG?
On 3 years of weekly data the EGHT/RNG correlation comes out at 0.50, moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.50). The 5-year figure is 0.59, and annualized covariance runs at 2077.1 %².
Among the 15 assets we track against EGHT, RNG ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RNG ahead by 119.1 points (+5.2% versus +124.3%). One caveat on sizing: EGHT is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EGHT vs RNG: side by side
| EGHT (8x8 Inc) | RNG (RingCentral, Inc.) | |
|---|---|---|
| 1-year return | +5.2% | +124.3% |
| 5-year return | -91.6% | -73.1% |
| Volatility (ann.) | 80.2% | 52.2% |
| Beta vs S&P 500 | 2.07 | 1.54 |
| Max drawdown (3Y) | -59.5% | -48.6% |
| Market cap | $0.3B | $5.7B |
| P/E (trailing) | 67.0 | 52.7 |
| Dividend yield | 0.00% | 0.23% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EGHT | RNG |
|---|---|---|
| 2022 | -74.2% | -81.1% |
| 2023 | -12.5% | -4.1% |
| 2024 | -29.4% | +3.1% |
| 2025 | -26.2% | -17.5% |
| 2026 | +2.0% | +138.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EGHT and RNG good diversifiers for each other?
Only partially. A correlation of 0.50 means EGHT and RNG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EGHT and RNG?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.35 over the last year and 0.59 over 5 years.
Is RNG a good diversifier for EGHT?
Only partially. A correlation of 0.50 means EGHT and RNG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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/eght-vs-rng.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eght-vs-rng/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EGHT correlations · RNG correlations
