NABL vs QTWO: Correlation
How closely do N-able, Inc. (NABL) and Q2 Holdings, Inc. (QTWO) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NABL and QTWO?
On 3 years of weekly data the NABL/QTWO correlation comes out at 0.48, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.48 over 3 years. The 5-year figure is 0.42, and annualized covariance runs at 989.7 %².
By 3-year correlation, QTWO places #5 of the 13 assets tracked against NABL. Their recent paths diverged sharply: over the last 12 months QTWO outperformed by 34.5 percentage points (-50.5% for NABL against -16.0% for QTWO).
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.
NABL vs QTWO: side by side
| NABL (N-able, Inc.) | QTWO (Q2 Holdings, Inc.) | |
|---|---|---|
| 1-year return | -50.5% | -16.0% |
| 5-year return | -69.9% | -24.7% |
| Volatility (ann.) | 49.3% | 41.9% |
| Beta vs S&P 500 | 0.78 | 1.41 |
| Max drawdown (3Y) | -80.4% | -62.0% |
| Market cap | $0.7B | $4.1B |
| P/E (trailing) | – | 45.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NABL | QTWO |
|---|---|---|
| 2022 | -7.4% | -66.2% |
| 2023 | +28.9% | +61.6% |
| 2024 | -29.5% | +131.9% |
| 2025 | -19.9% | -28.3% |
| 2026 | -47.2% | -9.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NABL and QTWO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NABL and QTWO?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.64 over the last year and 0.42 over 5 years.
Is QTWO a good diversifier for NABL?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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/nabl-vs-qtwo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/nabl-vs-qtwo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NABL correlations · QTWO correlations
