FRSH vs. HUBS

Last updated Jun 3, 2026

FRSH (Freshworks Inc.) and HUBS (HubSpot, Inc.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 3 years, FRSH returned -13.43%/yr vs -22.91%/yr for HUBS. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

FRSH vs. HUBS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Freshworks Inc. (FRSH) and HubSpot, Inc. (HUBS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRSH achieves a -17.06% return, which is significantly higher than HUBS's -40.15% return.

FRSH

• 1D: -4.87%
• 1M: 16.11%
• YTD: -17.06%
• 6M: -16.86%
• 1Y: -32.36%
• 3Y*: -13.43%
• 5Y*: —
• 10Y*: —

HUBS

• 1D: -8.41%
• 1M: 0.11%
• YTD: -40.15%
• 6M: -35.67%
• 1Y: -59.43%
• 3Y*: -22.91%
• 5Y*: -12.67%
• 10Y*: 16.56%

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

FRSH vs. HUBS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FRSH Freshworks Inc.	-17.06%	-24.24%	-31.16%	59.69%	-43.98%	-44.77%
HUBS HubSpot, Inc.	-40.15%	-42.41%	20.02%	100.79%	-56.14%	-7.35%

Correlation

The correlation between FRSH and HUBS is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.63

The correlation between FRSH and HUBS has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.

Fundamentals

Market Cap FRSH : $2.88B HUBS : $12.63B
EPS FRSH : $0.63 HUBS : $1.91
PE Ratio FRSH : 16.18 HUBS : 126.05
PEG Ratio FRSH : 0.18 HUBS : 0.14
PS Ratio FRSH : 3.35 HUBS : 3.83
PB Ratio FRSH : 2.82 HUBS : 6.32
Total Revenue (TTM) FRSH : $871.17M HUBS : $3.30B
Gross Profit (TTM) FRSH : $740.21M HUBS : $2.76B
EBITDA (TTM) FRSH : $55.83M HUBS : $196.96M

Return for Risk

FRSH vs. HUBS — Risk / Return Rank

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

FRSH

FRSH Risk / Return Rank: 15
FRSH Sharpe Ratio Rank: 11
FRSH Sortino Ratio Rank: 13
FRSH Omega Ratio Rank: 14
FRSH Calmar Ratio Rank: 19
FRSH Martin Ratio Rank: 19

HUBS

HUBS Risk / Return Rank: 6
HUBS Sharpe Ratio Rank: 5
HUBS Sortino Ratio Rank: 6
HUBS Omega Ratio Rank: 6
HUBS Calmar Ratio Rank: 8
HUBS Martin Ratio Rank: 7

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.

FRSH vs. HUBS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freshworks Inc. (FRSH) and HubSpot, Inc. (HUBS). 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.

	FRSH	HUBS	Difference
Sharpe ratio Return per unit of total volatility	-0.71	-0.96	+0.25
Sortino ratio Return per unit of downside risk	-0.83	-1.46	+0.63
Omega ratio Gain probability vs. loss probability	0.90	0.81	+0.08
Calmar ratio Return relative to maximum drawdown	-0.59	-0.84	+0.25
Martin ratio Return relative to average drawdown	-1.03	-1.40	+0.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRSH vs. HUBS - Sharpe Ratio Comparison

The current FRSH Sharpe Ratio is -0.71, which is comparable to the HUBS Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of FRSH and HUBS, 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

	FRSH	HUBS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.71	-0.96	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.48	0.39	-0.87

Drawdowns

FRSH vs. HUBS - Drawdown Comparison

The maximum FRSH drawdown since its inception was -86.31%, which is greater than HUBS's maximum drawdown of -78.99%. Use the drawdown chart below to compare losses from any high point for FRSH and HUBS.

Drawdown Indicators

	FRSH	HUBS	Difference
Max Drawdown Largest peak-to-trough decline	-86.31%	-78.99%	-7.32%
Max Drawdown (1Y) Largest decline over 1 year	-56.87%	-70.63%	+13.76%
Max Drawdown (3Y) Largest decline over 3 years	-71.90%	-78.16%	+6.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-78.99%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-78.99%	—
Current Drawdown Current decline from peak	-79.78%	-71.81%	-7.97%
Average Drawdown Average peak-to-trough decline	-67.27%	-23.05%	-44.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.58%	42.34%	-9.76%

Volatility

FRSH vs. HUBS - Volatility Comparison

The current volatility for Freshworks Inc. (FRSH) is 16.67%, while HubSpot, Inc. (HUBS) has a volatility of 34.54%. This indicates that FRSH experiences smaller price fluctuations and is considered to be less risky than HUBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRSH	HUBS	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.67%	34.54%	-17.87%
Volatility (6M) Calculated over the trailing 6-month period	39.84%	54.26%	-14.42%
Volatility (1Y) Calculated over the trailing 1-year period	45.74%	62.33%	-16.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.62%	54.91%	+3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.62%	50.92%	+7.70%

Dividends

FRSH vs. HUBS - Dividend Comparison

Neither FRSH nor HUBS has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

FRSH vs. HUBS - Profitability Comparison

The chart below illustrates the profitability comparison between Freshworks Inc. and HubSpot, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FRSH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Freshworks Inc. reported a gross profit of 193.95M and revenue of 228.63M. Therefore, the gross margin over that period was 84.8%.

HUBS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, HubSpot, Inc. reported a gross profit of 735.30M and revenue of 881.00M. Therefore, the gross margin over that period was 83.5%.

FRSH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Freshworks Inc. reported an operating income of -8.06M and revenue of 228.63M, resulting in an operating margin of -3.5%.

HUBS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, HubSpot, Inc. reported an operating income of 27.94M and revenue of 881.00M, resulting in an operating margin of 3.2%.

FRSH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Freshworks Inc. reported a net income of -4.81M and revenue of 228.63M, resulting in a net margin of -2.1%.

HUBS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, HubSpot, Inc. reported a net income of 32.55M and revenue of 881.00M, resulting in a net margin of 3.7%.

Frequently Asked Questions

Can I hold both FRSH and HUBS in my portfolio?

FRSH and HUBS have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRSH or HUBS?

HUBS has higher volatility (34.54%) compared to FRSH (16.67%). In terms of maximum drawdown, FRSH dropped -86.31% vs HUBS's -78.99%.

Which has better risk-adjusted returns?

FRSH currently has the higher Sharpe Ratio (-0.71 vs -0.96), 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.