HUBS vs SPOT: Correlation
HubSpot, Inc. (HUBS) and Spotify Technology S.A. (SPOT) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBS and SPOT?
Over the past 3 years, HUBS and SPOT moved with a correlation of 0.43, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 847.9 %².
By 3-year correlation, SPOT places #21 of the 30 assets tracked against HUBS. Correlation aside, the last 12 months split them widely, with SPOT ahead by 21.6 points (-45.5% versus -23.9%).
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 SPOT: side by side
| HUBS (HubSpot, Inc.) | SPOT (Spotify Technology S.A.) | |
|---|---|---|
| 1-year return | -45.5% | -23.9% |
| 5-year return | -63.5% | +126.2% |
| Volatility (ann.) | 50.4% | 39.5% |
| Beta vs S&P 500 | 1.18 | 0.85 |
| Max drawdown (3Y) | -79.2% | -46.8% |
| Market cap | $13.1B | $108.4B |
| P/E (trailing) | 90.7 | 29.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUBS | SPOT |
|---|---|---|
| 2022 | -56.1% | -66.3% |
| 2023 | +100.8% | +138.0% |
| 2024 | +20.0% | +138.1% |
| 2025 | -42.4% | +29.8% |
| 2026 | -36.2% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBS and SPOT good diversifiers for each other?
Reasonably. At 0.43, HUBS and SPOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HUBS and SPOT?
The HUBS/SPOT correlation stands at 0.43 on a 3-year window (1 year: 0.49, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is SPOT a good diversifier for HUBS?
Reasonably. At 0.43, HUBS and SPOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 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/hubs-vs-spot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hubs-vs-spot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HUBS correlations · SPOT correlations
