DNOW vs DXPE: Correlation
Measured on weekly returns over the past three years, DNOW Inc. (DNOW) and DXP Enterprises, Inc. (DXPE) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNOW and DXPE?
Over the past 3 years, DNOW and DXPE moved with a correlation of 0.56, which is moderate. The link has tightened recently: the 1-year correlation (0.68) runs above the 3-year figure (0.56). Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 1223.5 %².
In DNOW's tracked universe of 10 assets, DXPE sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months DXPE outperformed by 53.2 percentage points (+2.1% for DNOW against +55.3% for DXPE).
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.
DNOW vs DXPE: side by side
| DNOW (DNOW Inc.) | DXPE (DXP Enterprises, Inc.) | |
|---|---|---|
| 1-year return | +2.1% | +55.3% |
| 5-year return | +111.4% | +542.5% |
| Volatility (ann.) | 43.7% | 49.8% |
| Beta vs S&P 500 | 0.83 | 1.41 |
| Max drawdown (3Y) | -36.8% | -33.0% |
| Market cap | $2.9B | $3.0B |
| P/E (trailing) | – | 33.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNOW | DXPE |
|---|---|---|
| 2022 | +48.7% | +7.3% |
| 2023 | -10.9% | +22.3% |
| 2024 | +14.9% | +145.2% |
| 2025 | +1.8% | +32.9% |
| 2026 | +22.9% | +75.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNOW and DXPE good diversifiers for each other?
Only partially. A correlation of 0.56 means DNOW and DXPE 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 DNOW and DXPE?
The DNOW/DXPE correlation stands at 0.56 on a 3-year window (1 year: 0.68, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is DXPE a good diversifier for DNOW?
Only partially. A correlation of 0.56 means DNOW and DXPE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 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/dnow-vs-dxpe.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dnow-vs-dxpe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNOW correlations · DXPE correlations
