NOW vs TEAM: Correlation
How closely do ServiceNow (NOW) and Atlassian Corporation (TEAM) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and TEAM?
Over the past 3 years, NOW and TEAM moved with a correlation of 0.64, which is strong. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. Over 5 years the correlation is 0.71, and the annualized covariance of weekly returns is 1687.8 %².
Within NOW's tracked universe of 54 assets, TEAM comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TEAM outperformed by 30.1 percentage points (-22.1% for NOW against +8.0% for TEAM).
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 TEAM: side by side
| NOW (ServiceNow) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | -22.1% | +8.0% |
| 5-year return | +7.9% | -49.3% |
| Volatility (ann.) | 43.2% | 61.5% |
| Beta vs S&P 500 | 1.38 | 1.66 |
| Max drawdown (3Y) | -64.5% | -82.3% |
| Market cap | $143.1B | $47.0B |
| P/E (trailing) | 78.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NOW | TEAM |
|---|---|---|
| 2022 | -40.2% | -66.3% |
| 2023 | +82.0% | +84.8% |
| 2024 | +50.1% | +2.3% |
| 2025 | -27.7% | -33.4% |
| 2026 | -9.6% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and TEAM good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between NOW and TEAM?
Using weekly returns as of 2026-08-27: 0.64 over 3 years, with 0.73 over the last year and 0.71 over 5 years.
Is TEAM a good diversifier for NOW?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 mean?
A reading of 0.64 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-team.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/now-vs-team/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NOW correlations · TEAM correlations
