HUBS vs NET: Correlation
Measured on weekly returns over the past three years, HubSpot, Inc. (HUBS) and Cloudflare, Inc. (NET) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBS and NET?
Over the past 3 years, HUBS and NET moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1550.7 %².
Within HUBS's tracked universe of 30 assets, NET comes in at #10 by 3-year correlation. The last year tells two different stories: NET led by 95.7 percentage points, -45.5% for HUBS against +50.2% for NET.
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.
HUBS vs NET: side by side
| HUBS (HubSpot, Inc.) | NET (Cloudflare, Inc.) | |
|---|---|---|
| 1-year return | -45.5% | +50.2% |
| 5-year return | -63.5% | +149.7% |
| Volatility (ann.) | 50.4% | 53.7% |
| Beta vs S&P 500 | 1.18 | 1.68 |
| Max drawdown (3Y) | -79.2% | -45.0% |
| Market cap | $13.1B | $109.8B |
| P/E (trailing) | 90.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUBS | NET |
|---|---|---|
| 2022 | -56.1% | -65.6% |
| 2023 | +100.8% | +84.2% |
| 2024 | +20.0% | +29.3% |
| 2025 | -42.4% | +83.1% |
| 2026 | -36.2% | +56.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBS and NET 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 HUBS and NET?
The HUBS/NET correlation stands at 0.57 on a 3-year window (1 year: 0.59, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is NET a good diversifier for HUBS?
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/hubs-vs-net.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hubs-vs-net/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HUBS correlations · NET correlations
