GWRE vs NABL: Correlation
How closely do Guidewire Software, Inc. (GWRE) and N-able, Inc. (NABL) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWRE and NABL?
Across a 3-year window, the weekly returns of GWRE and NABL correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 1125.4 %².
Among the 18 assets we track against GWRE, NABL ranks #11 by 3-year correlation. The last year tells two different stories: GWRE led by 43.4 percentage points, -7.1% for GWRE against -50.5% for NABL.
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 NABL: side by side
| GWRE (Guidewire Software, Inc.) | NABL (N-able, Inc.) | |
|---|---|---|
| 1-year return | -7.1% | -50.5% |
| 5-year return | +68.2% | -69.9% |
| Volatility (ann.) | 45.6% | 49.3% |
| Beta vs S&P 500 | 0.83 | 0.78 |
| Max drawdown (3Y) | -60.8% | -80.4% |
| Market cap | $16.7B | $0.7B |
| P/E (trailing) | 103.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GWRE | NABL |
|---|---|---|
| 2022 | -44.9% | -7.4% |
| 2023 | +74.3% | +28.9% |
| 2024 | +54.6% | -29.5% |
| 2025 | +19.2% | -19.9% |
| 2026 | +0.0% | -47.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWRE and NABL good diversifiers for each other?
To a limited degree. At 0.50 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 GWRE and NABL?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.55 over the last year and 0.45 over 5 years.
Is NABL a good diversifier for GWRE?
To a limited degree. At 0.50 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 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: GWRE correlations · NABL correlations
