FORR vs SPSC: Correlation
Forrester Research, Inc. (FORR) and SPS Commerce, Inc. (SPSC) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FORR and SPSC?
Across a 3-year window, the weekly returns of FORR and SPSC correlate at 0.54, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.72 versus 0.54 over 3 years. Stretching to 5 years gives 0.49, with an annualized covariance of 1195.8 %².
In FORR's tracked universe of 13 assets, SPSC sits right near the top at #1. The last year tells two different stories: FORR led by 51.1 percentage points, +25.7% for FORR against -25.4% for SPSC.
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.
FORR vs SPSC: side by side
| FORR (Forrester Research, Inc.) | SPSC (SPS Commerce, Inc.) | |
|---|---|---|
| 1-year return | +25.7% | -25.4% |
| 5-year return | -74.7% | -38.6% |
| Volatility (ann.) | 50.1% | 44.2% |
| Beta vs S&P 500 | 0.82 | 1.10 |
| Max drawdown (3Y) | -83.9% | -76.8% |
| Market cap | $0.2B | $3.0B |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FORR | SPSC |
|---|---|---|
| 2022 | -39.1% | -9.8% |
| 2023 | -25.0% | +50.9% |
| 2024 | -41.6% | -5.1% |
| 2025 | -48.2% | -51.6% |
| 2026 | +50.4% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FORR and SPSC good diversifiers for each other?
To a limited degree. At 0.54 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 FORR and SPSC?
As of 2026-08-27, the correlation of weekly returns between FORR and SPSC is 0.54 over 3 years, 0.72 over 1 year and 0.49 over 5 years.
Is SPSC a good diversifier for FORR?
To a limited degree. At 0.54 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 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: FORR correlations · SPSC correlations
