NOW vs SAP: Correlation
ServiceNow (NOW) and SAP SE (SAP) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and SAP?
Across a 3-year window, the weekly returns of NOW and SAP correlate at 0.65, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 820.8 %².
Among the 54 assets we track against NOW, SAP ranks #6 by 3-year correlation. Their 12-month results are close: -22.1% for NOW against -18.2% for SAP.
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 SAP: side by side
| NOW (ServiceNow) | SAP (SAP SE) | |
|---|---|---|
| 1-year return | -22.1% | -18.2% |
| 5-year return | +7.9% | +60.5% |
| Volatility (ann.) | 43.2% | 29.4% |
| Beta vs S&P 500 | 1.38 | 1.02 |
| Max drawdown (3Y) | -64.5% | -52.3% |
| Market cap | $143.1B | $255.3B |
| P/E (trailing) | 78.7 | 27.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NOW | SAP |
|---|---|---|
| 2022 | -40.2% | -24.2% |
| 2023 | +82.0% | +52.3% |
| 2024 | +50.1% | +61.3% |
| 2025 | -27.7% | -0.4% |
| 2026 | -9.6% | -7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and SAP good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOW and SAP?
As of 2026-08-27, the correlation of weekly returns between NOW and SAP is 0.65 over 3 years, 0.65 over 1 year and 0.61 over 5 years.
Is SAP a good diversifier for NOW?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
A reading of 0.65 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-sap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/now-vs-sap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NOW correlations · SAP correlations
