BOX vs GWRE: Correlation
How closely do Box, Inc. (BOX) and Guidewire Software, Inc. (GWRE) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOX and GWRE?
On 3 years of weekly data the BOX/GWRE correlation comes out at 0.51, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.79 versus 0.51 over 3 years. The 5-year figure is 0.45, and annualized covariance runs at 731.3 %².
Few assets follow BOX as closely as GWRE, which ranks #3 of 11 tracked partners. Over the last 12 months BOX came out ahead by 14.1 percentage points (+7.0% against -7.1%).
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 GWRE: side by side
| BOX (Box, Inc.) | GWRE (Guidewire Software, Inc.) | |
|---|---|---|
| 1-year return | +7.0% | -7.1% |
| 5-year return | +35.7% | +68.2% |
| Volatility (ann.) | 31.3% | 45.6% |
| Beta vs S&P 500 | 0.61 | 0.83 |
| Max drawdown (3Y) | -44.6% | -60.8% |
| Market cap | $4.8B | $16.7B |
| P/E (trailing) | 48.9 | 103.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOX | GWRE |
|---|---|---|
| 2022 | +18.9% | -44.9% |
| 2023 | -17.7% | +74.3% |
| 2024 | +23.4% | +54.6% |
| 2025 | -5.3% | +19.2% |
| 2026 | +16.1% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOX and GWRE good diversifiers for each other?
Only partially. A correlation of 0.51 means BOX and GWRE 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 BOX and GWRE?
As of 2026-08-27, the correlation of weekly returns between BOX and GWRE is 0.51 over 3 years, 0.79 over 1 year and 0.45 over 5 years.
Is GWRE a good diversifier for BOX?
Only partially. A correlation of 0.51 means BOX and GWRE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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/box-vs-gwre.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/box-vs-gwre/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BOX correlations · GWRE correlations
