NOW vs NTAP: Correlation
How closely do ServiceNow (NOW) and NetApp (NTAP) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and NTAP?
Across a 3-year window, the weekly returns of NOW and NTAP correlate at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 758.3 %².
By 3-year correlation, NTAP places #39 of the 54 assets tracked against NOW. Correlation aside, the last 12 months split them widely, with NTAP ahead by 95.1 points (-22.1% versus +73.0%). The rolling one-year correlation moved between 0.20 and 0.58 over the past three years, a moderate range.
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.
NOW vs NTAP: side by side
| NOW (ServiceNow) | NTAP (NetApp) | |
|---|---|---|
| 1-year return | -22.1% | +73.0% |
| 5-year return | +7.9% | +141.7% |
| Volatility (ann.) | 43.2% | 37.6% |
| Beta vs S&P 500 | 1.38 | 1.38 |
| Max drawdown (3Y) | -64.5% | -42.6% |
| Market cap | $143.1B | $37.4B |
| P/E (trailing) | 78.7 | 30.5 |
| Dividend yield | 0.00% | 1.07% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | NOW | NTAP |
|---|---|---|
| 2022 | -40.2% | -32.9% |
| 2023 | +82.0% | +51.1% |
| 2024 | +50.1% | +34.2% |
| 2025 | -27.7% | -5.9% |
| 2026 | -9.6% | +80.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and NTAP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NOW and NTAP?
As of 2026-08-27, the correlation of weekly returns between NOW and NTAP is 0.47 over 3 years, 0.52 over 1 year and 0.46 over 5 years.
Is NTAP a good diversifier for NOW?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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/now-vs-ntap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/now-vs-ntap/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NOW correlations · NTAP correlations
