SAP SE (SAP) — Stock Correlations & Overview
Over the past year, SAP has moved most closely with SAPH, NOW, NOWL. Explore the stocks most correlated and inversely correlated with SAP below, along with its price, financials, and company profile.
Stocks correlated with SAP
Correlation of daily returns. Higher positive values move with SAP; negative values move opposite it. Informational only, not investment advice.
Most correlated with SAP
| Symbol | Company | Correlation |
|---|---|---|
| SAPH | SAP SE ADRhedged | 0.98 |
| NOW | SERVICENOW, INC.SERVICES-PREPACKAGED SOFTWARE | 0.70 |
| NOWL | GraniteShares 2x Long NOW Daily ETF | 0.69 |
| INVN | Alger Russell Innovation ETF | 0.68 |
| WCLD | WisdomTree Cloud Computing Fund | 0.68 |
Most inversely correlated with SAP
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.56 |
| MSFD | Direxion Shares ETF Trust Direxion Daily MSFT Bear 1X ETF | -0.50 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.50 |
| WEBS | Direxion Daily Dow Jones Internet Bear 3X ETF | -0.48 |
| PLTD | Direxion Shares ETF Trust Direxion Dailly PLTR Bear 1X ETF | -0.37 |
Frequently asked questions about SAP correlations
- Which stocks are most correlated with SAP?
- Based on one year of daily returns, the stocks most correlated with SAP SE (SAP) are SAPH (0.98), NOW (0.70) and NOWL (0.69). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with SAP?
- Over the past year, the stocks most inversely correlated with SAP SE (SAP) are HDGE (-0.56), MSFD (-0.50) and DWSH (-0.50). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these SAP correlations calculated?
- We compute the correlation of daily returns between SAP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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