NOW vs PLTR: Correlation
How closely do ServiceNow (NOW) and Palantir Technologies (PLTR) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and PLTR?
On 3 years of weekly data the NOW/PLTR correlation comes out at 0.49, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.49). The 5-year figure is 0.51, and annualized covariance runs at 1499.2 %².
By 3-year correlation, PLTR places #34 of the 54 assets tracked against NOW. Their recent paths diverged sharply: over the last 12 months PLTR outperformed by 40.7 percentage points (-22.1% for NOW against +18.6% for PLTR). Across three years, the rolling one-year figure varied moderately, from 0.34 to 0.63. Risk is not evenly split, since PLTR carries 1.7 times the volatility of the other side.
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 PLTR: side by side
| NOW (ServiceNow) | PLTR (Palantir Technologies) | |
|---|---|---|
| 1-year return | -22.1% | +18.6% |
| 5-year return | +7.9% | +621.8% |
| Volatility (ann.) | 43.2% | 71.3% |
| Beta vs S&P 500 | 1.38 | 2.47 |
| Max drawdown (3Y) | -64.5% | -48.2% |
| Market cap | $143.1B | $446.8B |
| P/E (trailing) | 78.7 | 151.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | NOW | PLTR |
|---|---|---|
| 2022 | -40.2% | -64.7% |
| 2023 | +82.0% | +167.4% |
| 2024 | +50.1% | +340.5% |
| 2025 | -27.7% | +135.0% |
| 2026 | -9.6% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and PLTR good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NOW and PLTR?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.66 over the last year and 0.51 over 5 years.
Is PLTR a good diversifier for NOW?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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.
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Related comparisons
Hubs: NOW correlations · PLTR correlations
