Embodiments of methods and systems for analyzing performance of an application are provided. In that regard, an embodiment of a method for analyzing performance, among others, comprises collecting performance metric data from the application over time; segmenting the performance metric data into time segments representing sets of contiguous time samples which exhibit similar performance metric behavior; determining the presence of an anomaly in a time segment; and correlating the anomalous segment with other data available to the system to determine the cause of the anomaly.