SAP vs TYL: Correlation
How closely do SAP SE (SAP) and Tyler Technologies (TYL) 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 SAP and TYL?
Across a 3-year window, the weekly returns of SAP and TYL correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.53, with an annualized covariance of 442.2 %².
Among the 17 assets we track against SAP, TYL ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SAP ahead by 15.8 points (-18.2% versus -34.0%).
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.
SAP vs TYL: side by side
| SAP (SAP SE) | TYL (Tyler Technologies) | |
|---|---|---|
| 1-year return | -18.2% | -34.0% |
| 5-year return | +60.5% | -22.5% |
| Volatility (ann.) | 29.4% | 29.6% |
| Beta vs S&P 500 | 1.02 | 0.61 |
| Max drawdown (3Y) | -52.3% | -57.4% |
| Market cap | $255.3B | $15.1B |
| P/E (trailing) | 27.2 | 46.3 |
| Dividend yield | 1.18% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | SAP | TYL |
|---|---|---|
| 2022 | -24.2% | -40.1% |
| 2023 | +52.3% | +29.7% |
| 2024 | +61.3% | +37.9% |
| 2025 | -0.4% | -21.3% |
| 2026 | -7.4% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAP and TYL good diversifiers for each other?
Only partially. A correlation of 0.51 means SAP and TYL 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 SAP and TYL?
As of 2026-08-27, the correlation of weekly returns between SAP and TYL is 0.51 over 3 years, 0.53 over 1 year and 0.53 over 5 years.
Is TYL a good diversifier for SAP?
Only partially. A correlation of 0.51 means SAP and TYL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/sap-vs-tyl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sap-vs-tyl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SAP correlations · TYL correlations
