PD vs TEAM: Correlation
Measured on weekly returns over the past three years, PagerDuty, Inc. (PD) and Atlassian Corporation (TEAM) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PD and TEAM?
Across a 3-year window, the weekly returns of PD and TEAM correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.70) sits close to the 3-year figure. Stretching to 5 years gives 0.66, with an annualized covariance of 2010.5 %².
Few assets follow PD as closely as TEAM, which ranks #2 of 17 tracked partners. Correlation aside, the last 12 months split them widely, with TEAM ahead by 33.5 points (-25.5% versus +8.0%).
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.
PD vs TEAM: side by side
| PD (PagerDuty, Inc.) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | -25.5% | +8.0% |
| 5-year return | -70.4% | -49.3% |
| Volatility (ann.) | 52.9% | 61.5% |
| Beta vs S&P 500 | 1.44 | 1.66 |
| Max drawdown (3Y) | -78.4% | -82.3% |
| Market cap | $1.0B | $47.0B |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PD | TEAM |
|---|---|---|
| 2022 | -23.6% | -66.3% |
| 2023 | -12.8% | +84.8% |
| 2024 | -21.1% | +2.3% |
| 2025 | -28.2% | -33.4% |
| 2026 | -3.7% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PD and TEAM good diversifiers for each other?
Only partially. A correlation of 0.62 means PD and TEAM 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 PD and TEAM?
As of 2026-08-27, the correlation of weekly returns between PD and TEAM is 0.62 over 3 years, 0.70 over 1 year and 0.66 over 5 years.
Is TEAM a good diversifier for PD?
Only partially. A correlation of 0.62 means PD and TEAM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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.
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Related comparisons
Hubs: PD correlations · TEAM correlations
