DT vs PANW: Correlation
Dynatrace, Inc. (DT) and Palo Alto Networks (PANW) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DT and PANW?
Over the past 3 years, DT and PANW moved with a correlation of 0.57, which is moderate. Little has changed lately, as the 1-year reading of 0.61 lands near the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 821.4 %².
By 3-year correlation, PANW places #10 of the 26 assets tracked against DT. The last year tells two different stories: PANW led by 97.5 percentage points, +6.6% for DT against +104.1% for PANW.
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 PANW: side by side
| DT (Dynatrace, Inc.) | PANW (Palo Alto Networks) | |
|---|---|---|
| 1-year return | +6.6% | +104.1% |
| 5-year return | -21.5% | +400.7% |
| Volatility (ann.) | 34.3% | 42.0% |
| Beta vs S&P 500 | 1.02 | 1.32 |
| Max drawdown (3Y) | -48.2% | -36.0% |
| Market cap | $15.5B | $312.0B |
| P/E (trailing) | 102.8 | 294.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | DT | PANW |
|---|---|---|
| 2022 | -36.5% | -24.8% |
| 2023 | +42.8% | +111.3% |
| 2024 | -0.6% | +23.4% |
| 2025 | -20.3% | +1.2% |
| 2026 | +23.3% | +107.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DT and PANW good diversifiers for each other?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between DT and PANW?
As of 2026-08-27, the correlation of weekly returns between DT and PANW is 0.57 over 3 years, 0.61 over 1 year and 0.53 over 5 years.
Is PANW a good diversifier for DT?
To a limited degree. At 0.57 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.57 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dt-vs-panw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dt-vs-panw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DT correlations · PANW correlations
