NOW vs SPOT: Correlation
How closely do ServiceNow (NOW) and Spotify Technology S.A. (SPOT) 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 SPOT?
Across a 3-year window, the weekly returns of NOW and SPOT correlate at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 798.2 %².
Within NOW's tracked universe of 54 assets, SPOT comes in at #41 by 3-year correlation. Neither side won the trailing year by much: -22.1% against -23.9%.
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 SPOT: side by side
| NOW (ServiceNow) | SPOT (Spotify Technology S.A.) | |
|---|---|---|
| 1-year return | -22.1% | -23.9% |
| 5-year return | +7.9% | +126.2% |
| Volatility (ann.) | 43.2% | 39.5% |
| Beta vs S&P 500 | 1.38 | 0.85 |
| Max drawdown (3Y) | -64.5% | -46.8% |
| Market cap | $143.1B | $108.4B |
| P/E (trailing) | 78.7 | 29.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NOW | SPOT |
|---|---|---|
| 2022 | -40.2% | -66.3% |
| 2023 | +82.0% | +138.0% |
| 2024 | +50.1% | +138.1% |
| 2025 | -27.7% | +29.8% |
| 2026 | -9.6% | -9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and SPOT good diversifiers for each other?
Reasonably. At 0.47, NOW and SPOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NOW and SPOT?
As of 2026-08-27, the correlation of weekly returns between NOW and SPOT is 0.47 over 3 years, 0.48 over 1 year and 0.51 over 5 years.
Is SPOT a good diversifier for NOW?
Reasonably. At 0.47, NOW and SPOT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/now-vs-spot.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/now-vs-spot/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NOW correlations · SPOT correlations
