ESTC vs. CRWD

Last updated Jun 3, 2026

ESTC (Elastic N.V.) and CRWD (CrowdStrike Holdings, Inc.) are both stocks. Both are in the Technology sector — ESTC in Software - Application, CRWD in Software - Infrastructure. Over the past 5 years, ESTC returned -12.24%/yr vs 28.91%/yr for CRWD. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

ESTC vs. CRWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Elastic N.V. (ESTC) and CrowdStrike Holdings, Inc. (CRWD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ESTC achieves a -10.41% return, which is significantly lower than CRWD's 64.04% return.

ESTC

• 1D: -0.69%
• 1M: 39.05%
• YTD: -10.41%
• 6M: -6.46%
• 1Y: -17.27%
• 3Y*: -2.22%
• 5Y*: -12.24%
• 10Y*: —

CRWD

• 1D: -1.69%
• 1M: 68.76%
• YTD: 64.04%
• 6M: 48.86%
• 1Y: 60.48%
• 3Y*: 71.92%
• 5Y*: 28.91%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ESTC vs. CRWD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ESTC Elastic N.V.	-10.41%	-23.86%	-12.09%	118.83%	-58.16%	-15.77%	127.26%	-18.00%
CRWD CrowdStrike Holdings, Inc.	64.04%	37.00%	34.01%	142.49%	-48.58%	-3.34%	324.74%	-14.02%

Correlation

The correlation between ESTC and CRWD is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.61

The correlation between ESTC and CRWD has been stable across timeframes, ranging from 0.56 to 0.64 - a consistent structural relationship.

Fundamentals

Market Cap ESTC : $7.12B CRWD : $198.49B
EPS ESTC : $3.48 CRWD : -$0.72
PS Ratio ESTC : 4.11 CRWD : 40.45
PB Ratio ESTC : 5.58 CRWD : 44.82
Total Revenue (TTM) ESTC : $1.74B CRWD : $4.81B
Gross Profit (TTM) ESTC : $1.32B CRWD : $3.60B
EBITDA (TTM) ESTC : $56.03M CRWD : -$39.16M

Return for Risk

ESTC vs. CRWD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ESTC

ESTC Risk / Return Rank: 27
ESTC Sharpe Ratio Rank: 26
ESTC Sortino Ratio Rank: 26
ESTC Omega Ratio Rank: 25
ESTC Calmar Ratio Rank: 30
ESTC Martin Ratio Rank: 29

CRWD

CRWD Risk / Return Rank: 73
CRWD Sharpe Ratio Rank: 79
CRWD Sortino Ratio Rank: 73
CRWD Omega Ratio Rank: 73
CRWD Calmar Ratio Rank: 71
CRWD Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ESTC vs. CRWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elastic N.V. (ESTC) and CrowdStrike Holdings, Inc. (CRWD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ESTC	CRWD	Difference
Sharpe ratio Return per unit of total volatility	-0.34	1.36	-1.71
Sortino ratio Return per unit of downside risk	-0.16	1.92	-2.09
Omega ratio Gain probability vs. loss probability	0.98	1.25	-0.27
Calmar ratio Return relative to maximum drawdown	-0.30	1.70	-2.00
Martin ratio Return relative to average drawdown	-0.60	3.91	-4.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ESTC vs. CRWD - Sharpe Ratio Comparison

The current ESTC Sharpe Ratio is -0.34, which is lower than the CRWD Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of ESTC and CRWD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ESTC	CRWD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	1.36	-1.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.21	0.57	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.81	-0.81

Drawdowns

ESTC vs. CRWD - Drawdown Comparison

The maximum ESTC drawdown since its inception was -76.82%, which is greater than CRWD's maximum drawdown of -67.69%. Use the drawdown chart below to compare losses from any high point for ESTC and CRWD.

Drawdown Indicators

	ESTC	CRWD	Difference
Max Drawdown Largest peak-to-trough decline	-76.82%	-67.69%	-9.13%
Max Drawdown (1Y) Largest decline over 1 year	-54.17%	-37.18%	-16.99%
Max Drawdown (3Y) Largest decline over 3 years	-67.64%	-44.44%	-23.20%
Max Drawdown (5Y) Largest decline over 5 years	-76.82%	-67.69%	-9.13%
Current Drawdown Current decline from peak	-63.81%	-1.69%	-62.12%
Average Drawdown Average peak-to-trough decline	-39.91%	-23.67%	-16.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	27.60%	16.13%	+11.47%

Volatility

ESTC vs. CRWD - Volatility Comparison

Elastic N.V. (ESTC) has a higher volatility of 17.57% compared to CrowdStrike Holdings, Inc. (CRWD) at 14.41%. This indicates that ESTC's price experiences larger fluctuations and is considered to be riskier than CRWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESTC	CRWD	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.57%	14.41%	+3.16%
Volatility (6M) Calculated over the trailing 6-month period	40.77%	36.07%	+4.70%
Volatility (1Y) Calculated over the trailing 1-year period	50.36%	44.58%	+5.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.01%	50.72%	+8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	57.94%	55.95%	+1.99%

Dividends

ESTC vs. CRWD - Dividend Comparison

Neither ESTC nor CRWD has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

ESTC vs. CRWD - Profitability Comparison

The chart below illustrates the profitability comparison between Elastic N.V. and CrowdStrike Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ESTC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Elastic N.V. reported a gross profit of 339.62M and revenue of 450.68M. Therefore, the gross margin over that period was 75.4%.

CRWD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CrowdStrike Holdings, Inc. reported a gross profit of 989.46M and revenue of 1.31B. Therefore, the gross margin over that period was 75.8%.

ESTC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Elastic N.V. reported an operating income of -16.41M and revenue of 450.68M, resulting in an operating margin of -3.6%.

CRWD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CrowdStrike Holdings, Inc. reported an operating income of -6.90M and revenue of 1.31B, resulting in an operating margin of -0.5%.

ESTC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Elastic N.V. reported a net income of 435.90M and revenue of 450.68M, resulting in a net margin of 96.7%.

CRWD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CrowdStrike Holdings, Inc. reported a net income of 38.69M and revenue of 1.31B, resulting in a net margin of 3.0%.

Frequently Asked Questions

Can I hold both ESTC and CRWD in my portfolio?

ESTC and CRWD have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESTC or CRWD?

ESTC has higher volatility (17.57%) compared to CRWD (14.41%). In terms of maximum drawdown, ESTC dropped -76.82% vs CRWD's -67.69%.

Which has better risk-adjusted returns?

CRWD currently has the higher Sharpe Ratio (1.36 vs -0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.