GIB vs OTEX: Correlation
Measured on weekly returns over the past three years, CGI Inc. (GIB) and Open Text Corporation (OTEX) 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 GIB and OTEX?
On 3 years of weekly data the GIB/OTEX correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.56 over 3. The 5-year figure is 0.57, and annualized covariance runs at 419.6 %².
Within GIB's tracked universe of 25 assets, OTEX comes in at #8 by 3-year correlation. Neither side won the trailing year by much: -22.4% against -20.7%.
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.
GIB vs OTEX: side by side
| GIB (CGI Inc.) | OTEX (Open Text Corporation) | |
|---|---|---|
| 1-year return | -22.4% | -20.7% |
| 5-year return | -16.0% | -46.4% |
| Volatility (ann.) | 23.3% | 32.4% |
| Beta vs S&P 500 | 0.57 | 1.06 |
| Max drawdown (3Y) | -49.6% | -50.4% |
| Market cap | $15.4B | $6.1B |
| P/E (trailing) | 12.6 | 9.4 |
| Dividend yield | 0.90% | 4.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GIB | OTEX |
|---|---|---|
| 2022 | -2.7% | -35.9% |
| 2023 | +24.5% | +45.4% |
| 2024 | +2.1% | -30.4% |
| 2025 | -15.3% | +19.3% |
| 2026 | -18.8% | -21.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIB and OTEX good diversifiers for each other?
Only partially. A correlation of 0.56 means GIB 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 GIB and OTEX?
The GIB/OTEX correlation stands at 0.56 on a 3-year window (1 year: 0.66, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is OTEX a good diversifier for GIB?
Only partially. A correlation of 0.56 means GIB 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 0.56 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/gib-vs-otex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gib-vs-otex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GIB correlations · OTEX correlations
