SAP vs VEEV: Correlation
How closely do SAP SE (SAP) 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 SAP and VEEV?
On 3 years of weekly data the SAP/VEEV correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 594.3 %².
Among the 17 assets we track against SAP, VEEV ranks #11 by 3-year correlation. On 12-month performance VEEV holds a 14.3-point edge, -18.2% against -3.9%.
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 VEEV: side by side
| SAP (SAP SE) | VEEV (Veeva Systems) | |
|---|---|---|
| 1-year return | -18.2% | -3.9% |
| 5-year return | +60.5% | -15.2% |
| Volatility (ann.) | 29.4% | 40.0% |
| Beta vs S&P 500 | 1.02 | 0.99 |
| Max drawdown (3Y) | -52.3% | -50.5% |
| Market cap | $255.3B | $45.8B |
| P/E (trailing) | 27.2 | 46.3 |
| Dividend yield | 1.18% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | SAP | VEEV |
|---|---|---|
| 2022 | -24.2% | -36.8% |
| 2023 | +52.3% | +19.3% |
| 2024 | +61.3% | +9.2% |
| 2025 | -0.4% | +6.2% |
| 2026 | -7.4% | +26.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAP 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 SAP and VEEV?
As of 2026-08-27, the correlation of weekly returns between SAP and VEEV is 0.51 over 3 years, 0.60 over 1 year and 0.52 over 5 years.
Is VEEV a good diversifier for SAP?
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/sap-vs-veev.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sap-vs-veev/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SAP correlations · VEEV correlations
