DBX vs GLBE: Correlation
Dropbox, Inc. (DBX) and Global-E Online Ltd. (GLBE) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBX and GLBE?
Over the past 3 years, DBX and GLBE moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 856.6 %².
Within DBX's tracked universe of 18 assets, GLBE comes in at #4 by 3-year correlation. On 12-month performance DBX holds a 5.1-point edge, +24.5% against +19.4%. Risk is not evenly split, since GLBE carries 1.6 times the volatility of the other side.
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.
DBX vs GLBE: side by side
| DBX (Dropbox, Inc.) | GLBE (Global-E Online Ltd.) | |
|---|---|---|
| 1-year return | +24.5% | +19.4% |
| 5-year return | +14.9% | -51.4% |
| Volatility (ann.) | 32.7% | 51.3% |
| Beta vs S&P 500 | 0.86 | 1.64 |
| Max drawdown (3Y) | -37.4% | -56.2% |
| Market cap | $7.8B | $6.6B |
| P/E (trailing) | 19.2 | 44.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBX | GLBE |
|---|---|---|
| 2022 | -8.8% | -67.4% |
| 2023 | +31.7% | +92.0% |
| 2024 | +1.9% | +37.6% |
| 2025 | -7.5% | -27.9% |
| 2026 | +29.1% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBX and GLBE good diversifiers for each other?
Only partially. A correlation of 0.51 means DBX and GLBE 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 DBX and GLBE?
As of 2026-08-27, the correlation of weekly returns between DBX and GLBE is 0.51 over 3 years, 0.49 over 1 year and 0.48 over 5 years.
Is GLBE a good diversifier for DBX?
Only partially. A correlation of 0.51 means DBX and GLBE 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?
A reading of 0.51 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/dbx-vs-glbe.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dbx-vs-glbe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DBX correlations · GLBE correlations
