FISV vs VRNS: Correlation
Measured on weekly returns over the past three years, Fiserv (FISV) and Varonis Systems, Inc. (VRNS) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FISV and VRNS?
On 3 years of weekly data the FISV/VRNS correlation comes out at 0.51, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.51). The 5-year figure is 0.44, and annualized covariance runs at 994.9 %².
Few assets follow FISV as closely as VRNS, which ranks #3 of 39 tracked partners. Correlation aside, the last 12 months split them widely, with VRNS ahead by 38.5 points (-61.9% versus -23.4%).
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.
FISV vs VRNS: side by side
| FISV (Fiserv) | VRNS (Varonis Systems, Inc.) | |
|---|---|---|
| 1-year return | -61.9% | -23.4% |
| 5-year return | -55.0% | -35.2% |
| Volatility (ann.) | 39.2% | 50.1% |
| Beta vs S&P 500 | 0.58 | 1.01 |
| Max drawdown (3Y) | -80.2% | -68.1% |
| Market cap | $28.0B | $5.1B |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FISV | VRNS |
|---|---|---|
| 2022 | -2.6% | -50.9% |
| 2023 | +31.4% | +89.1% |
| 2024 | +54.6% | -1.9% |
| 2025 | -67.3% | -26.2% |
| 2026 | -21.7% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FISV and VRNS good diversifiers for each other?
To a limited degree. At 0.51 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 FISV and VRNS?
The FISV/VRNS correlation stands at 0.51 on a 3-year window (1 year: 0.66, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is VRNS a good diversifier for FISV?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 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.
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Related comparisons
Hubs: FISV correlations · VRNS correlations
