PATH vs VEEV: Correlation
How closely do UiPath, Inc. (PATH) and Veeva Systems (VEEV) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PATH and VEEV?
Over the past 3 years, PATH and VEEV moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.56 lands near the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 1246.8 %².
By 3-year correlation, VEEV places #6 of the 14 assets tracked against PATH. Correlation aside, the last 12 months split them widely, with PATH ahead by 68.4 points (+64.5% versus -3.9%). One caveat on sizing: PATH is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PATH vs VEEV: side by side
| PATH (UiPath, Inc.) | VEEV (Veeva Systems) | |
|---|---|---|
| 1-year return | +64.5% | -3.9% |
| 5-year return | -71.6% | -15.2% |
| Volatility (ann.) | 60.8% | 40.0% |
| Beta vs S&P 500 | 1.40 | 0.99 |
| Max drawdown (3Y) | -65.1% | -50.5% |
| Market cap | $9.5B | $45.8B |
| P/E (trailing) | 27.8 | 46.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | PATH | VEEV |
|---|---|---|
| 2022 | -70.5% | -36.8% |
| 2023 | +95.4% | +19.3% |
| 2024 | -48.8% | +9.2% |
| 2025 | +29.0% | +6.2% |
| 2026 | +11.8% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PATH and VEEV good diversifiers for each other?
To a limited degree. At 0.51 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 PATH and VEEV?
As of 2026-08-27, the correlation of weekly returns between PATH and VEEV is 0.51 over 3 years, 0.56 over 1 year and 0.52 over 5 years.
Is VEEV a good diversifier for PATH?
To a limited degree. At 0.51 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 0.51 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/path-vs-veev.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/path-vs-veev/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PATH correlations · VEEV correlations
