BOX vs DBX: Correlation
How closely do Box, Inc. (BOX) and Dropbox, Inc. (DBX) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOX and DBX?
Over the past 3 years, BOX and DBX moved with a correlation of 0.50, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.66 versus 0.50 over 3 years. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 517.1 %².
Within BOX's tracked universe of 11 assets, DBX comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with DBX ahead by 17.5 points (+7.0% versus +24.5%).
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.
BOX vs DBX: side by side
| BOX (Box, Inc.) | DBX (Dropbox, Inc.) | |
|---|---|---|
| 1-year return | +7.0% | +24.5% |
| 5-year return | +35.7% | +14.9% |
| Volatility (ann.) | 31.3% | 32.7% |
| Beta vs S&P 500 | 0.61 | 0.86 |
| Max drawdown (3Y) | -44.6% | -37.4% |
| Market cap | $4.8B | $7.8B |
| P/E (trailing) | 48.9 | 19.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOX | DBX |
|---|---|---|
| 2022 | +18.9% | -8.8% |
| 2023 | -17.7% | +31.7% |
| 2024 | +23.4% | +1.9% |
| 2025 | -5.3% | -7.5% |
| 2026 | +16.1% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOX and DBX good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BOX and DBX?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.66 over the last year and 0.54 over 5 years.
Is DBX a good diversifier for BOX?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/box-vs-dbx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/box-vs-dbx/)
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Related comparisons
Hubs: BOX correlations · DBX correlations
