NTNX vs SAP: Correlation
Measured on weekly returns over the past three years, Nutanix, Inc. (NTNX) and SAP SE (SAP) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTNX and SAP?
On 3 years of weekly data the NTNX/SAP correlation comes out at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 667.3 %².
Among the 16 assets we track against NTNX, SAP ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NTNX ahead by 18.5 points (+0.3% versus -18.2%). Risk is not evenly split, since NTNX carries 1.6 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.
NTNX vs SAP: side by side
| NTNX (Nutanix, Inc.) | SAP (SAP SE) | |
|---|---|---|
| 1-year return | +0.3% | -18.2% |
| 5-year return | +90.4% | +60.5% |
| Volatility (ann.) | 45.6% | 29.4% |
| Beta vs S&P 500 | 1.28 | 1.02 |
| Max drawdown (3Y) | -58.6% | -52.3% |
| Market cap | $18.9B | $255.3B |
| P/E (trailing) | 12.7 | 27.2 |
| Dividend yield | 0.00% | 1.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTNX | SAP |
|---|---|---|
| 2022 | -18.2% | -24.2% |
| 2023 | +83.1% | +52.3% |
| 2024 | +28.3% | +61.3% |
| 2025 | -15.5% | -0.4% |
| 2026 | +35.1% | -7.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTNX and SAP good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between NTNX and SAP?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.51 over the last year and 0.40 over 5 years.
Is SAP a good diversifier for NTNX?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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/ntnx-vs-sap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ntnx-vs-sap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTNX correlations · SAP correlations
