SNOW vs. ESTC
SNOW (Snowflake Inc.) and ESTC (Elastic N.V.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 5 years, SNOW returned -1.87%/yr vs -16.76%/yr for ESTC. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
SNOW vs. ESTC - Performance Comparison
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Returns By Period
In the year-to-date period, SNOW achieves a 3.30% return, which is significantly higher than ESTC's -22.15% return.
SNOW
- 1D
- -2.45%
- 1M
- 31.59%
- YTD
- 3.30%
- 6M
- -0.11%
- 1Y
- 6.89%
- 3Y*
- 8.33%
- 5Y*
- -1.87%
- 10Y*
- —
ESTC
- 1D
- -0.41%
- 1M
- 7.15%
- YTD
- -22.15%
- 6M
- -25.12%
- 1Y
- -28.38%
- 3Y*
- -1.95%
- 5Y*
- -16.76%
- 10Y*
- —
SNOW vs. ESTC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SNOW Snowflake Inc. | 3.30% | 42.06% | -22.41% | 38.64% | -57.63% | 20.38% | 14.86% |
ESTC Elastic N.V. | -22.15% | -23.86% | -12.09% | 118.83% | -58.16% | -15.77% | 40.83% |
Correlation
The correlation between SNOW and ESTC is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2020 | 0.64 |
The correlation between SNOW and ESTC has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.
Fundamentals
SNOW:
$78.26B
ESTC:
$6.18B
SNOW:
-$3.53
ESTC:
$3.48
SNOW:
15.28
ESTC:
3.57
SNOW:
37.98
ESTC:
4.85
SNOW:
$5.03B
ESTC:
$1.74B
SNOW:
$3.38B
ESTC:
$1.32B
SNOW:
-$1.21B
ESTC:
$56.03M
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Return for Risk
SNOW vs. ESTC — Risk / Return Rank
SNOW
ESTC
SNOW vs. ESTC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Snowflake Inc. (SNOW) and Elastic N.V. (ESTC). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SNOW | ESTC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.24 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.93 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | -0.53 | +0.65 |
| Martin ratioReturn relative to average drawdown | 0.27 | -0.99 | +1.25 |
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Drawdowns
SNOW vs. ESTC - Drawdown Comparison
The maximum SNOW drawdown since its inception was -72.99%, roughly equal to the maximum ESTC drawdown of -76.82%. Use the drawdown chart below to compare losses from any high point for SNOW and ESTC.
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Drawdown Indicators
| SNOW | ESTC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.99% | -76.82% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -56.30% | -54.17% | -2.13% |
Max Drawdown (3Y)Largest decline over 3 years | -56.30% | -67.64% | +11.34% |
Max Drawdown (5Y)Largest decline over 5 years | -72.99% | -76.82% | +3.83% |
Current DrawdownCurrent decline from peak | -43.62% | -68.56% | +24.94% |
Average DrawdownAverage peak-to-trough decline | -49.00% | -40.07% | -8.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.03% | 28.72% | -2.69% |
Volatility
SNOW vs. ESTC - Volatility Comparison
Snowflake Inc. (SNOW) has a higher volatility of 35.96% compared to Elastic N.V. (ESTC) at 17.95%. This indicates that SNOW's price experiences larger fluctuations and is considered to be riskier than ESTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SNOW | ESTC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 35.96% | 17.95% | +18.01% |
Volatility (6M)Calculated over the trailing 6-month period | 52.70% | 40.81% | +11.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.61% | 50.70% | +14.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.94% | 58.95% | +2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.60% | 57.83% | +4.77% |
Dividends
SNOW vs. ESTC - Dividend Comparison
Neither SNOW nor ESTC has paid dividends to shareholders.
Financials
SNOW vs. ESTC - Financials Comparison
This section allows you to compare key financial metrics between Snowflake Inc. and Elastic N.V.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
SNOW vs. ESTC - Profitability Comparison
SNOW - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Snowflake Inc. reported a gross profit of 926.45M and revenue of 1.39B. Therefore, the gross margin over that period was 66.6%.
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%.
SNOW - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Snowflake Inc. reported an operating income of -326.15M and revenue of 1.39B, resulting in an operating margin of -23.5%.
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%.
SNOW - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Snowflake Inc. reported a net income of -295.57M and revenue of 1.39B, resulting in a net margin of -21.3%.
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%.
Frequently Asked Questions
SNOW and ESTC have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SNOW has higher volatility (35.96%) compared to ESTC (17.95%). In terms of maximum drawdown, SNOW dropped -72.99% vs ESTC's -76.82%.
SNOW currently has the higher Sharpe Ratio (0.11 vs -0.56), 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.
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