DBX vs OTEX: Correlation
How closely do Dropbox, Inc. (DBX) and Open Text Corporation (OTEX) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBX and OTEX?
On 3 years of weekly data the DBX/OTEX correlation comes out at 0.53, moderate. The past 12 months show a tighter link (0.65) than the 3-year average (0.53). The 5-year figure is 0.51, and annualized covariance runs at 558.9 %².
Few assets follow DBX as closely as OTEX, which ranks #3 of 18 tracked partners. The last year tells two different stories: DBX led by 45.2 percentage points, +24.5% for DBX against -20.7% for OTEX.
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 OTEX: side by side
| DBX (Dropbox, Inc.) | OTEX (Open Text Corporation) | |
|---|---|---|
| 1-year return | +24.5% | -20.7% |
| 5-year return | +14.9% | -46.4% |
| Volatility (ann.) | 32.7% | 32.4% |
| Beta vs S&P 500 | 0.86 | 1.06 |
| Max drawdown (3Y) | -37.4% | -50.4% |
| Market cap | $7.8B | $6.1B |
| P/E (trailing) | 19.2 | 9.4 |
| Dividend yield | 0.00% | 4.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBX | OTEX |
|---|---|---|
| 2022 | -8.8% | -35.9% |
| 2023 | +31.7% | +45.4% |
| 2024 | +1.9% | -30.4% |
| 2025 | -7.5% | +19.3% |
| 2026 | +29.1% | -21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBX and OTEX good diversifiers for each other?
Only partially. A correlation of 0.53 means DBX and OTEX 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 OTEX?
As of 2026-08-27, the correlation of weekly returns between DBX and OTEX is 0.53 over 3 years, 0.65 over 1 year and 0.51 over 5 years.
Is OTEX a good diversifier for DBX?
Only partially. A correlation of 0.53 means DBX and OTEX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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-otex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dbx-vs-otex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DBX correlations · OTEX correlations
