NOW vs NTNX: Correlation
Measured on weekly returns over the past three years, ServiceNow (NOW) and Nutanix, Inc. (NTNX) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and NTNX?
Across a 3-year window, the weekly returns of NOW and NTNX correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 1075.2 %².
By 3-year correlation, NTNX places #26 of the 54 assets tracked against NOW. Correlation aside, the last 12 months split them widely, with NTNX ahead by 22.4 points (-22.1% versus +0.3%).
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 NTNX: side by side
| NOW (ServiceNow) | NTNX (Nutanix, Inc.) | |
|---|---|---|
| 1-year return | -22.1% | +0.3% |
| 5-year return | +7.9% | +90.4% |
| Volatility (ann.) | 43.2% | 45.6% |
| Beta vs S&P 500 | 1.38 | 1.28 |
| Max drawdown (3Y) | -64.5% | -58.6% |
| Market cap | $143.1B | $18.9B |
| P/E (trailing) | 78.7 | 12.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NOW | NTNX |
|---|---|---|
| 2022 | -40.2% | -18.2% |
| 2023 | +82.0% | +83.1% |
| 2024 | +50.1% | +28.3% |
| 2025 | -27.7% | -15.5% |
| 2026 | -9.6% | +35.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and NTNX good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOW and NTNX?
The NOW/NTNX correlation stands at 0.55 on a 3-year window (1 year: 0.53, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is NTNX a good diversifier for NOW?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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/now-vs-ntnx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/now-vs-ntnx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NOW correlations · NTNX correlations
