MNDY vs NOW: Correlation
Measured on weekly returns over the past three years, monday.com Ltd. (MNDY) and ServiceNow (NOW) 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 MNDY and NOW?
Over the past 3 years, MNDY and NOW moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.62 lands near the 3-year figure. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 1451.1 %².
In MNDY's tracked universe of 13 assets, NOW sits right near the top at #2. Correlation aside, the last 12 months split them widely, with NOW ahead by 23.2 points (-45.3% versus -22.1%).
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.
MNDY vs NOW: side by side
| MNDY (monday.com Ltd.) | NOW (ServiceNow) | |
|---|---|---|
| 1-year return | -45.3% | -22.1% |
| 5-year return | -74.0% | +7.9% |
| Volatility (ann.) | 59.2% | 43.2% |
| Beta vs S&P 500 | 1.96 | 1.38 |
| Max drawdown (3Y) | -82.1% | -64.5% |
| Market cap | $4.2B | $143.1B |
| P/E (trailing) | 42.2 | 78.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | MNDY | NOW |
|---|---|---|
| 2022 | -60.5% | -40.2% |
| 2023 | +53.9% | +82.0% |
| 2024 | +25.4% | +50.1% |
| 2025 | -37.3% | -27.7% |
| 2026 | -32.6% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MNDY and NOW 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 MNDY and NOW?
The MNDY/NOW correlation stands at 0.57 on a 3-year window (1 year: 0.62, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is NOW a good diversifier for MNDY?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mndy-vs-now.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mndy-vs-now/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MNDY correlations · NOW correlations
