GWRE vs IOT: Correlation
Guidewire Software, Inc. (GWRE) and Samsara Inc. (IOT) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWRE and IOT?
Across a 3-year window, the weekly returns of GWRE and IOT correlate at 0.59, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.72 versus 0.59 over 3 years. Stretching to 5 years gives 0.54, with an annualized covariance of 1615.3 %².
Few assets follow GWRE as closely as IOT, which ranks #3 of 18 tracked partners. The last year tells two different stories: IOT led by 24.5 percentage points, -7.1% for GWRE against +17.4% for IOT.
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.
GWRE vs IOT: side by side
| GWRE (Guidewire Software, Inc.) | IOT (Samsara Inc.) | |
|---|---|---|
| 1-year return | -7.1% | +17.4% |
| 5-year return | +68.2% | +69.5% |
| Volatility (ann.) | 45.6% | 59.7% |
| Beta vs S&P 500 | 0.83 | 1.74 |
| Max drawdown (3Y) | -60.8% | -60.2% |
| Market cap | $16.7B | – |
| P/E (trailing) | 103.1 | 418.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GWRE | IOT |
|---|---|---|
| 2022 | -44.9% | -55.8% |
| 2023 | +74.3% | +168.5% |
| 2024 | +54.6% | +30.9% |
| 2025 | +19.2% | -18.9% |
| 2026 | +0.0% | +18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWRE and IOT good diversifiers for each other?
Only partially. A correlation of 0.59 means GWRE and IOT 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 GWRE and IOT?
As of 2026-08-27, the correlation of weekly returns between GWRE and IOT is 0.59 over 3 years, 0.72 over 1 year and 0.54 over 5 years.
Is IOT a good diversifier for GWRE?
Only partially. A correlation of 0.59 means GWRE and IOT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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
$ curl https://www.pairbook.io/api/v1/pairs/gwre-vs-iot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gwre-vs-iot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GWRE correlations · IOT correlations
