NOW vs. CGNX

Last updated Jun 9, 2026

NOW (ServiceNow, Inc) and CGNX (Cognex Corporation) are both stocks. Both are in the Technology sector — NOW in Software - Application, CGNX in Scientific & Technical Instruments. Over the past 10 years, NOW returned 22.66%/yr vs 11.89%/yr for CGNX. At a 0.39 correlation, their price movements are largely independent.

Performance

NOW vs. CGNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ServiceNow, Inc (NOW) and Cognex Corporation (CGNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOW achieves a -25.46% return, which is significantly lower than CGNX's 73.89% return. Over the past 10 years, NOW has outperformed CGNX with an annualized return of 22.66%, while CGNX has yielded a comparatively lower 11.89% annualized return.

NOW

• 1D: 1.55%
• 1M: 25.24%
• YTD: -25.46%
• 6M: -33.11%
• 1Y: -44.58%
• 3Y*: 2.25%
• 5Y*: 4.20%
• 10Y*: 22.66%

CGNX

• 1D: 2.58%
• 1M: -4.85%
• YTD: 73.89%
• 6M: 62.85%
• 1Y: 107.46%
• 3Y*: 4.89%
• 5Y*: -3.98%
• 10Y*: 11.89%

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

NOW vs. CGNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOW ServiceNow, Inc	-25.46%	-27.75%	50.05%	81.96%	-40.18%	17.93%	94.97%	58.56%	36.55%	75.40%
CGNX Cognex Corporation	73.89%	1.24%	-13.45%	-10.84%	-39.11%	-2.85%	47.69%	45.54%	-36.53%	92.91%

Correlation

The correlation between NOW and CGNX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jul 2, 2012	0.39

Over the past year, the correlation between NOW and CGNX has dropped to 0.03 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

Fundamentals

Market Cap NOW : $118.76B CGNX : $10.51B
EPS NOW : $1.68 CGNX : $0.84
PE Ratio NOW : 67.97 CGNX : 73.88
PS Ratio NOW : 8.56 CGNX : 10.06
PB Ratio NOW : 8.75 CGNX : 7.10
Total Revenue (TTM) NOW : $13.96B CGNX : $1.05B
Gross Profit (TTM) NOW : $10.69B CGNX : $712.01M
EBITDA (TTM) NOW : $2.80B CGNX : $224.08M

Return for Risk

NOW vs. CGNX — Risk / Return Rank

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

NOW

NOW Risk / Return Rank: 10
NOW Sharpe Ratio Rank: 7
NOW Sortino Ratio Rank: 9
NOW Omega Ratio Rank: 9
NOW Calmar Ratio Rank: 14
NOW Martin Ratio Rank: 10

CGNX

CGNX Risk / Return Rank: 88
CGNX Sharpe Ratio Rank: 88
CGNX Sortino Ratio Rank: 90
CGNX Omega Ratio Rank: 90
CGNX Calmar Ratio Rank: 88
CGNX Martin Ratio Rank: 86

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.

NOW vs. CGNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ServiceNow, Inc (NOW) and Cognex Corporation (CGNX). 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.

	NOW	CGNX	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	1.87	-2.77
Sortino ratio: Return per unit of downside risk	-1.24	3.15	-4.38
Omega ratio: Gain probability vs. loss probability	0.84	1.42	-0.58
Calmar ratio: Return relative to maximum drawdown	-0.74	3.88	-4.62
Martin ratio: Return relative to average drawdown	-1.33	8.76	-10.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOW vs. CGNX - Sharpe Ratio Comparison

The current NOW Sharpe Ratio is -0.90, which is lower than the CGNX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of NOW and CGNX, 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

	NOW	CGNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.90	1.87	-2.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	-0.09	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.29	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.28	+0.33

Drawdowns

NOW vs. CGNX - Drawdown Comparison

The maximum NOW drawdown since its inception was -64.54%, smaller than the maximum CGNX drawdown of -83.71%. Use the drawdown chart below to compare losses from any high point for NOW and CGNX.

Drawdown Indicators

	NOW	CGNX	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-83.71%	+19.17%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-27.86%	-32.42%
Max Drawdown (3Y) Largest decline over 3 years	-64.54%	-59.98%	-4.56%
Max Drawdown (5Y) Largest decline over 5 years	-64.54%	-74.07%	+9.53%
Max Drawdown (10Y) Largest decline over 10 years	-64.54%	-74.63%	+10.09%
Current Drawdown Current decline from peak	-51.22%	-31.35%	-19.87%
Average Drawdown Average peak-to-trough decline	-13.74%	-37.52%	+23.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.44%	12.31%	+21.13%

Volatility

NOW vs. CGNX - Volatility Comparison

ServiceNow, Inc (NOW) has a higher volatility of 24.74% compared to Cognex Corporation (CGNX) at 13.16%. This indicates that NOW's price experiences larger fluctuations and is considered to be riskier than CGNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOW	CGNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.74%	13.16%	+11.58%
Volatility (6M) Calculated over the trailing 6-month period	46.58%	42.07%	+4.51%
Volatility (1Y) Calculated over the trailing 1-year period	49.79%	58.00%	-8.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.41%	43.52%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.82%	41.85%	-1.03%

Dividends

NOW vs. CGNX - Dividend Comparison

NOW has not paid dividends to shareholders, while CGNX's dividend yield for the trailing twelve months is around 0.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CGNX Cognex Corporation	0.54%	0.90%	0.85%	0.68%	0.56%	0.32%	2.77%	0.37%	0.48%	0.27%	0.46%	0.62%
NOW ServiceNow, Inc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

NOW vs. CGNX - Profitability Comparison

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

NOW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported a gross profit of 2.83B and revenue of 3.77B. Therefore, the gross margin over that period was 75.1%.

CGNX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cognex Corporation reported a gross profit of 190.94M and revenue of 268.44M. Therefore, the gross margin over that period was 71.1%.

NOW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported an operating income of 503.00M and revenue of 3.77B, resulting in an operating margin of 13.3%.

CGNX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cognex Corporation reported an operating income of 59.87M and revenue of 268.44M, resulting in an operating margin of 22.3%.

NOW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ServiceNow, Inc reported a net income of 469.00M and revenue of 3.77B, resulting in a net margin of 12.4%.

CGNX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cognex Corporation reported a net income of 51.70M and revenue of 268.44M, resulting in a net margin of 19.3%.

Frequently Asked Questions

Can I hold both NOW and CGNX in my portfolio?

NOW and CGNX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOW or CGNX?

NOW has higher volatility (24.74%) compared to CGNX (13.16%). In terms of maximum drawdown, NOW dropped -64.54% vs CGNX's -83.71%.

Which has better risk-adjusted returns?

CGNX currently has the higher Sharpe Ratio (1.87 vs -0.90), 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.