DT vs ESTC: Correlation
Dynatrace, Inc. (DT) and Elastic N.V. (ESTC) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DT and ESTC?
Across a 3-year window, the weekly returns of DT and ESTC correlate at 0.55, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.66 versus 0.55 over 3 years. Stretching to 5 years gives 0.61, with an annualized covariance of 1031.4 %².
Among the 26 assets we track against DT, ESTC ranks #13 by 3-year correlation. On 12-month performance DT holds a 6.1-point edge, +6.6% against +0.5%. Note the risk asymmetry: ESTC runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DT vs ESTC: side by side
| DT (Dynatrace, Inc.) | ESTC (Elastic N.V.) | |
|---|---|---|
| 1-year return | +6.6% | +0.5% |
| 5-year return | -21.5% | -47.3% |
| Volatility (ann.) | 34.3% | 55.1% |
| Beta vs S&P 500 | 1.02 | 1.44 |
| Max drawdown (3Y) | -48.2% | -67.6% |
| Market cap | $15.5B | $8.7B |
| P/E (trailing) | 102.8 | 23.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DT | ESTC |
|---|---|---|
| 2022 | -36.5% | -58.2% |
| 2023 | +42.8% | +118.8% |
| 2024 | -0.6% | -12.1% |
| 2025 | -20.3% | -23.9% |
| 2026 | +23.3% | +11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DT and ESTC good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DT and ESTC?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.66 over the last year and 0.61 over 5 years.
Is ESTC a good diversifier for DT?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/dt-vs-estc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dt-vs-estc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DT correlations · ESTC correlations
