ADSK vs OTEX: Correlation
How closely do Autodesk (ADSK) and Open Text Corporation (OTEX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSK and OTEX?
On 3 years of weekly data the ADSK/OTEX correlation comes out at 0.54, moderate. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 542.0 %².
By 3-year correlation, OTEX places #22 of the 44 assets tracked against ADSK. Correlation aside, the last 12 months split them widely, with ADSK ahead by 15.3 points (-5.4% versus -20.7%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ADSK vs OTEX: side by side
| ADSK (Autodesk) | OTEX (Open Text Corporation) | |
|---|---|---|
| 1-year return | -5.4% | -20.7% |
| 5-year return | -13.7% | -46.4% |
| Volatility (ann.) | 30.9% | 32.4% |
| Beta vs S&P 500 | 1.04 | 1.06 |
| Max drawdown (3Y) | -42.6% | -50.4% |
| Market cap | $57.1B | $6.1B |
| P/E (trailing) | 37.2 | 9.4 |
| Dividend yield | 0.00% | 4.52% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ADSK | OTEX |
|---|---|---|
| 2022 | -33.5% | -35.9% |
| 2023 | +30.3% | +45.4% |
| 2024 | +21.4% | -30.4% |
| 2025 | +0.1% | +19.3% |
| 2026 | -8.6% | -21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSK and OTEX good diversifiers for each other?
Only partially. A correlation of 0.54 means ADSK and OTEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ADSK and OTEX?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.64 over the last year and 0.59 over 5 years.
Is OTEX a good diversifier for ADSK?
Only partially. A correlation of 0.54 means ADSK and OTEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adsk-vs-otex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adsk-vs-otex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADSK correlations · OTEX correlations
