OKTA vs PD: Correlation
Measured on weekly returns over the past three years, Okta, Inc. (OKTA) and PagerDuty, Inc. (PD) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OKTA and PD?
Over the past 3 years, OKTA and PD moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 1521.1 %².
In OKTA's tracked universe of 12 assets, PD sits right near the top at #2. Correlation aside, the last 12 months split them widely, with OKTA ahead by 111.4 points (+85.9% versus -25.5%).
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.
OKTA vs PD: side by side
| OKTA (Okta, Inc.) | PD (PagerDuty, Inc.) | |
|---|---|---|
| 1-year return | +85.9% | -25.5% |
| 5-year return | -34.7% | -70.4% |
| Volatility (ann.) | 54.5% | 52.9% |
| Beta vs S&P 500 | 1.24 | 1.44 |
| Max drawdown (3Y) | -50.6% | -78.4% |
| Market cap | $30.2B | $1.0B |
| P/E (trailing) | 97.1 | 5.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OKTA | PD |
|---|---|---|
| 2022 | -69.5% | -23.6% |
| 2023 | +32.5% | -12.8% |
| 2024 | -13.0% | -21.1% |
| 2025 | +9.7% | -28.2% |
| 2026 | +100.0% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OKTA and PD good diversifiers for each other?
To a limited degree. At 0.53 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 OKTA and PD?
The OKTA/PD correlation stands at 0.53 on a 3-year window (1 year: 0.60, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is PD a good diversifier for OKTA?
To a limited degree. At 0.53 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 0.53 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/okta-vs-pd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/okta-vs-pd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OKTA correlations · PD correlations
