AEP vs DBX: Correlation
American Electric Power (AEP) and Dropbox, Inc. (DBX) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and DBX?
Across a 3-year window, the weekly returns of AEP and DBX correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -159.3 %².
Within AEP's tracked universe of 36 assets, DBX comes in at #30 by 3-year correlation. On 12-month performance DBX holds a 12.4-point edge, +12.1% against +24.5%. Note the risk asymmetry: DBX runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AEP vs DBX: side by side
| AEP (American Electric Power) | DBX (Dropbox, Inc.) | |
|---|---|---|
| 1-year return | +12.1% | +24.5% |
| 5-year return | +63.9% | +14.9% |
| Volatility (ann.) | 18.9% | 32.7% |
| Beta vs S&P 500 | -0.01 | 0.86 |
| Max drawdown (3Y) | -13.1% | -37.4% |
| Market cap | $66.8B | $7.8B |
| P/E (trailing) | 21.4 | 19.2 |
| Dividend yield | 3.06% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AEP | DBX |
|---|---|---|
| 2022 | +10.4% | -8.8% |
| 2023 | -11.0% | +31.7% |
| 2024 | +18.2% | +1.9% |
| 2025 | +29.4% | -7.5% |
| 2026 | +8.9% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and DBX good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AEP and DBX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.28 over the last year and -0.09 over 5 years.
Is DBX a good diversifier for AEP?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aep-vs-dbx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aep-vs-dbx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEP correlations · DBX correlations
