FRSH vs HUBS: Correlation
Measured on weekly returns over the past three years, Freshworks Inc. (FRSH) and HubSpot, Inc. (HUBS) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRSH and HUBS?
Over the past 3 years, FRSH and HUBS moved with a correlation of 0.59, which is moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 1453.3 %².
Among the 28 assets we track against FRSH, HUBS ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRSH ahead by 46.1 points (+0.6% versus -45.5%).
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.
FRSH vs HUBS: side by side
| FRSH (Freshworks Inc.) | HUBS (HubSpot, Inc.) | |
|---|---|---|
| 1-year return | +0.6% | -45.5% |
| 5-year return | -71.2% | -63.5% |
| Volatility (ann.) | 48.9% | 50.4% |
| Beta vs S&P 500 | 1.46 | 1.18 |
| Max drawdown (3Y) | -71.9% | -79.2% |
| Market cap | $3.6B | $13.1B |
| P/E (trailing) | 20.4 | 90.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRSH | HUBS |
|---|---|---|
| 2022 | -44.0% | -56.1% |
| 2023 | +59.7% | +100.8% |
| 2024 | -31.2% | +20.0% |
| 2025 | -24.2% | -42.4% |
| 2026 | +11.8% | -36.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and HUBS good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FRSH and HUBS?
As of 2026-08-27, the correlation of weekly returns between FRSH and HUBS is 0.59 over 3 years, 0.61 over 1 year and 0.57 over 5 years.
Is HUBS a good diversifier for FRSH?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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
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Related comparisons
Hubs: FRSH correlations · HUBS correlations
