NOW vs SNOW: Correlation
How closely do ServiceNow (NOW) and Snowflake Inc. (SNOW) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and SNOW?
Across a 3-year window, the weekly returns of NOW and SNOW correlate at 0.63, strong. The past 12 months show a tighter link (0.76) than the 3-year average (0.63). Stretching to 5 years gives 0.60, with an annualized covariance of 1513.3 %².
Among the 54 assets we track against NOW, SNOW ranks #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SNOW ahead by 86.3 points (-22.1% versus +64.2%).
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 SNOW: side by side
| NOW (ServiceNow) | SNOW (Snowflake Inc.) | |
|---|---|---|
| 1-year return | -22.1% | +64.2% |
| 5-year return | +7.9% | +10.5% |
| Volatility (ann.) | 43.2% | 55.4% |
| Beta vs S&P 500 | 1.38 | 1.41 |
| Max drawdown (3Y) | -64.5% | -56.3% |
| Market cap | $143.1B | $114.1B |
| P/E (trailing) | 78.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NOW | SNOW |
|---|---|---|
| 2022 | -40.2% | -57.6% |
| 2023 | +82.0% | +38.6% |
| 2024 | +50.1% | -22.4% |
| 2025 | -27.7% | +42.1% |
| 2026 | -9.6% | +50.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and SNOW good diversifiers for each other?
Only partially. A correlation of 0.63 means NOW and SNOW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between NOW and SNOW?
The NOW/SNOW correlation stands at 0.63 on a 3-year window (1 year: 0.76, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is SNOW a good diversifier for NOW?
Only partially. A correlation of 0.63 means NOW and SNOW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 mean?
A reading of 0.63 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-snow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/now-vs-snow/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NOW correlations · SNOW correlations
