SPSC vs VERX: Correlation
How closely do SPS Commerce, Inc. (SPSC) and Vertex, Inc. (VERX) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPSC and VERX?
On 3 years of weekly data the SPSC/VERX correlation comes out at 0.52, moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.52). The 5-year figure is 0.48, and annualized covariance runs at 1223.2 %².
By 3-year correlation, VERX places #11 of the 24 assets tracked against SPSC. Their recent paths diverged sharply: over the last 12 months SPSC outperformed by 18.0 percentage points (-25.4% for SPSC against -43.4% for VERX).
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.
SPSC vs VERX: side by side
| SPSC (SPS Commerce, Inc.) | VERX (Vertex, Inc.) | |
|---|---|---|
| 1-year return | -25.4% | -43.4% |
| 5-year return | -38.6% | -33.8% |
| Volatility (ann.) | 44.2% | 53.5% |
| Beta vs S&P 500 | 1.10 | 0.99 |
| Max drawdown (3Y) | -76.8% | -82.1% |
| Market cap | $3.0B | $2.3B |
| P/E (trailing) | 40.5 | 715.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPSC | VERX |
|---|---|---|
| 2022 | -9.8% | -8.6% |
| 2023 | +50.9% | +85.7% |
| 2024 | -5.1% | +98.0% |
| 2025 | -51.6% | -62.6% |
| 2026 | -5.5% | -28.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPSC and VERX good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between SPSC and VERX?
The SPSC/VERX correlation stands at 0.52 on a 3-year window (1 year: 0.64, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is VERX a good diversifier for SPSC?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/spsc-vs-verx.json
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The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SPSC correlations · VERX correlations
