BLKB vs OTEX: Correlation
How closely do Blackbaud, Inc. (BLKB) and Open Text Corporation (OTEX) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLKB and OTEX?
Across a 3-year window, the weekly returns of BLKB and OTEX correlate at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.55). Stretching to 5 years gives 0.52, with an annualized covariance of 698.9 %².
OTEX is one of the assets that tracks BLKB most closely: it ranks #2 out of the 16 assets we track against BLKB. On 12-month performance OTEX holds a 6.3-point edge, -27.0% against -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.
BLKB vs OTEX: side by side
| BLKB (Blackbaud, Inc.) | OTEX (Open Text Corporation) | |
|---|---|---|
| 1-year return | -27.0% | -20.7% |
| 5-year return | -30.1% | -46.4% |
| Volatility (ann.) | 39.2% | 32.4% |
| Beta vs S&P 500 | 0.81 | 1.06 |
| Max drawdown (3Y) | -69.8% | -50.4% |
| Market cap | $2.2B | $6.1B |
| P/E (trailing) | 14.7 | 9.4 |
| Dividend yield | 0.00% | 4.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLKB | OTEX |
|---|---|---|
| 2022 | -25.5% | -35.9% |
| 2023 | +47.3% | +45.4% |
| 2024 | -14.7% | -30.4% |
| 2025 | -14.3% | +19.3% |
| 2026 | -23.3% | -21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLKB and OTEX good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BLKB and OTEX?
The BLKB/OTEX correlation stands at 0.55 on a 3-year window (1 year: 0.70, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is OTEX a good diversifier for BLKB?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/blkb-vs-otex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/blkb-vs-otex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BLKB correlations · OTEX correlations
