MANH vs MSFT: Correlation
How closely do Manhattan Associates, Inc. (MANH) and Microsoft (MSFT) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MANH and MSFT?
Across a 3-year window, the weekly returns of MANH and MSFT correlate at 0.64, strong. The link has tightened recently: the 1-year correlation (0.75) runs above the 3-year figure (0.64). Stretching to 5 years gives 0.66, with an annualized covariance of 730.5 %².
MSFT is one of the assets that tracks MANH most closely: it ranks #1 out of the 13 assets we track against MANH. Their 12-month results are close: +2.2% for MANH against +0.5% for MSFT. One caveat on sizing: MANH is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MANH vs MSFT: side by side
| MANH (Manhattan Associates, Inc.) | MSFT (Microsoft) | |
|---|---|---|
| 1-year return | +2.2% | +0.5% |
| 5-year return | +35.7% | +73.3% |
| Volatility (ann.) | 41.7% | 27.5% |
| Beta vs S&P 500 | 1.25 | 1.12 |
| Max drawdown (3Y) | -61.0% | -34.5% |
| Market cap | $13.0B | $3,750.3B |
| P/E (trailing) | 63.9 | 28.1 |
| Dividend yield | 0.00% | 0.73% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | MANH | MSFT |
|---|---|---|
| 2022 | -21.9% | -28.0% |
| 2023 | +77.4% | +58.2% |
| 2024 | +25.5% | +12.9% |
| 2025 | -35.9% | +15.6% |
| 2026 | +29.1% | +5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MANH and MSFT good diversifiers for each other?
Only partially. A correlation of 0.64 means MANH and MSFT 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 MANH and MSFT?
The MANH/MSFT correlation stands at 0.64 on a 3-year window (1 year: 0.75, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is MSFT a good diversifier for MANH?
Only partially. A correlation of 0.64 means MANH and MSFT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 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/manh-vs-msft.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/manh-vs-msft/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MANH correlations · MSFT correlations
