MANH vs NOW: Correlation
Measured on weekly returns over the past three years, Manhattan Associates, Inc. (MANH) and ServiceNow (NOW) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MANH and NOW?
Across a 3-year window, the weekly returns of MANH and NOW correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.65) sits close to the 3-year figure. Stretching to 5 years gives 0.64, with an annualized covariance of 1147.8 %².
In MANH's tracked universe of 13 assets, NOW sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months MANH outperformed by 24.3 percentage points (+2.2% for MANH 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.
MANH vs NOW: side by side
| MANH (Manhattan Associates, Inc.) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | +2.2% | -22.1% |
| 5-year return | +35.7% | +7.9% |
| Volatility (ann.) | 41.7% | 43.2% |
| Beta vs S&P 500 | 1.25 | 1.38 |
| Max drawdown (3Y) | -61.0% | -64.5% |
| Market cap | $13.0B | $143.1B |
| P/E (trailing) | 63.9 | 78.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | MANH | NOW |
|---|---|---|
| 2022 | -21.9% | -40.2% |
| 2023 | +77.4% | +82.0% |
| 2024 | +25.5% | +50.1% |
| 2025 | -35.9% | -27.7% |
| 2026 | +29.1% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MANH 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 MANH and NOW?
As of 2026-08-27, the correlation of weekly returns between MANH and NOW is 0.64 over 3 years, 0.65 over 1 year and 0.64 over 5 years.
Is NOW a good diversifier for MANH?
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?
On the −1 to +1 scale, 0.64 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/manh-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/manh-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MANH correlations · NOW correlations
