GWRE vs NOW: Correlation
Guidewire Software, Inc. (GWRE) and ServiceNow (NOW) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWRE and NOW?
On 3 years of weekly data the GWRE/NOW correlation comes out at 0.64, strong. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.64 over 3 years. The 5-year figure is 0.65, and annualized covariance runs at 1254.3 %².
Few assets follow GWRE as closely as NOW, which ranks #1 of 18 tracked partners. Their recent paths diverged sharply: over the last 12 months GWRE outperformed by 15.0 percentage points (-7.1% for GWRE against -22.1% for NOW).
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 NOW: side by side
| GWRE (Guidewire Software, Inc.) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | -7.1% | -22.1% |
| 5-year return | +68.2% | +7.9% |
| Volatility (ann.) | 45.6% | 43.2% |
| Beta vs S&P 500 | 0.83 | 1.38 |
| Max drawdown (3Y) | -60.8% | -64.5% |
| Market cap | $16.7B | $143.1B |
| P/E (trailing) | 103.1 | 78.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | GWRE | NOW |
|---|---|---|
| 2022 | -44.9% | -40.2% |
| 2023 | +74.3% | +82.0% |
| 2024 | +54.6% | +50.1% |
| 2025 | +19.2% | -27.7% |
| 2026 | +0.0% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWRE and NOW good diversifiers for each other?
To a limited degree. At 0.64 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 NOW?
The GWRE/NOW correlation stands at 0.64 on a 3-year window (1 year: 0.76, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is NOW a good diversifier for GWRE?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gwre-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gwre-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GWRE correlations · NOW correlations
