GTLB vs SNOW: Correlation
GitLab Inc. (GTLB) and Snowflake Inc. (SNOW) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTLB and SNOW?
Over the past 3 years, GTLB and SNOW moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 1653.4 %².
Among the 19 assets we track against GTLB, SNOW ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SNOW outperformed by 69.4 percentage points (-5.2% for GTLB against +64.2% for SNOW).
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.
GTLB vs SNOW: side by side
| GTLB (GitLab Inc.) | SNOW (Snowflake Inc.) | |
|---|---|---|
| 1-year return | -5.2% | +64.2% |
| 5-year return | -56.9% | +10.5% |
| Volatility (ann.) | 52.0% | 55.4% |
| Beta vs S&P 500 | 1.49 | 1.41 |
| Max drawdown (3Y) | -75.0% | -56.3% |
| Market cap | $7.6B | $114.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTLB | SNOW |
|---|---|---|
| 2022 | -47.8% | -57.6% |
| 2023 | +38.6% | +38.6% |
| 2024 | -10.5% | -22.4% |
| 2025 | -33.4% | +42.1% |
| 2026 | +19.4% | +50.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTLB and SNOW good diversifiers for each other?
To a limited degree. At 0.57 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 GTLB and SNOW?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.60 over the last year and 0.57 over 5 years.
Is SNOW a good diversifier for GTLB?
To a limited degree. At 0.57 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 0.57 mean?
On the −1 to +1 scale, 0.57 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/gtlb-vs-snow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gtlb-vs-snow/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GTLB correlations · SNOW correlations
