EXLS vs VEEV: Correlation
ExlService Holdings, Inc. (EXLS) and Veeva Systems (VEEV) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXLS and VEEV?
Over the past 3 years, EXLS and VEEV moved with a correlation of 0.52, which is moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 661.0 %².
Among the 47 assets we track against EXLS, VEEV ranks #32 by 3-year correlation. On 12-month performance VEEV holds a 9.5-point edge, -13.4% against -3.9%.
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.
EXLS vs VEEV: side by side
| EXLS (ExlService Holdings, Inc.) | VEEV (Veeva Systems) | |
|---|---|---|
| 1-year return | -13.4% | -3.9% |
| 5-year return | +55.2% | -15.2% |
| Volatility (ann.) | 31.7% | 40.0% |
| Beta vs S&P 500 | 0.77 | 0.99 |
| Max drawdown (3Y) | -51.3% | -50.5% |
| Market cap | $5.8B | $45.8B |
| P/E (trailing) | 23.7 | 46.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | EXLS | VEEV |
|---|---|---|
| 2022 | +17.0% | -36.8% |
| 2023 | -9.0% | +19.3% |
| 2024 | +43.9% | +9.2% |
| 2025 | -4.4% | +6.2% |
| 2026 | -10.0% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXLS and VEEV good diversifiers for each other?
Only partially. A correlation of 0.52 means EXLS and VEEV 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 EXLS and VEEV?
As of 2026-08-27, the correlation of weekly returns between EXLS and VEEV is 0.52 over 3 years, 0.58 over 1 year and 0.46 over 5 years.
Is VEEV a good diversifier for EXLS?
Only partially. A correlation of 0.52 means EXLS and VEEV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EXLS correlations · VEEV correlations
