DSGX vs EXLS: Correlation
The Descartes Systems Group Inc. (DSGX) and ExlService Holdings, Inc. (EXLS) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSGX and EXLS?
Across a 3-year window, the weekly returns of DSGX and EXLS correlate at 0.61, strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 608.0 %².
EXLS is one of the assets that tracks DSGX most closely: it ranks #3 out of the 26 assets we track against DSGX. The trailing year gives EXLS the advantage: -19.1% versus -13.4%, a 5.7-point spread.
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.
DSGX vs EXLS: side by side
| DSGX (The Descartes Systems Group Inc.) | EXLS (ExlService Holdings, Inc.) | |
|---|---|---|
| 1-year return | -19.1% | -13.4% |
| 5-year return | +3.6% | +55.2% |
| Volatility (ann.) | 31.5% | 31.7% |
| Beta vs S&P 500 | 0.86 | 0.77 |
| Max drawdown (3Y) | -48.7% | -51.3% |
| Market cap | $6.9B | $5.8B |
| P/E (trailing) | 38.6 | 23.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSGX | EXLS |
|---|---|---|
| 2022 | -15.8% | +17.0% |
| 2023 | +20.7% | -9.0% |
| 2024 | +35.1% | +43.9% |
| 2025 | -22.8% | -4.4% |
| 2026 | -8.0% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSGX and EXLS good diversifiers for each other?
Only partially. A correlation of 0.61 means DSGX and EXLS 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 DSGX and EXLS?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.68 over the last year and 0.52 over 5 years.
Is EXLS a good diversifier for DSGX?
Only partially. A correlation of 0.61 means DSGX and EXLS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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.
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Related comparisons
Hubs: DSGX correlations · EXLS correlations
