OTEX vs XYZ: Correlation
Open Text Corporation (OTEX) and Block, Inc. (XYZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTEX and XYZ?
On 3 years of weekly data the OTEX/XYZ correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 833.1 %².
Among the 15 assets we track against OTEX, XYZ ranks #9 by 3-year correlation. The last year tells two different stories: XYZ led by 27.6 percentage points, -20.7% for OTEX against +6.9% for XYZ. Risk is not evenly split, since XYZ carries 1.5 times the volatility of the other side.
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.
OTEX vs XYZ: side by side
| OTEX (Open Text Corporation) | XYZ (Block, Inc.) | |
|---|---|---|
| 1-year return | -20.7% | +6.9% |
| 5-year return | -46.4% | -68.8% |
| Volatility (ann.) | 32.4% | 50.2% |
| Beta vs S&P 500 | 1.06 | 1.80 |
| Max drawdown (3Y) | -50.4% | -53.0% |
| Market cap | $6.1B | $51.0B |
| P/E (trailing) | 9.4 | 151.5 |
| Dividend yield | 4.52% | 0.00% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | OTEX | XYZ |
|---|---|---|
| 2022 | -35.9% | -61.1% |
| 2023 | +45.4% | +23.1% |
| 2024 | -30.4% | +9.9% |
| 2025 | +19.3% | -23.4% |
| 2026 | -21.0% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTEX and XYZ good diversifiers for each other?
Only partially. A correlation of 0.51 means OTEX and XYZ 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 OTEX and XYZ?
As of 2026-08-27, the correlation of weekly returns between OTEX and XYZ is 0.51 over 3 years, 0.51 over 1 year and 0.52 over 5 years.
Is XYZ a good diversifier for OTEX?
Only partially. A correlation of 0.51 means OTEX and XYZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/otex-vs-xyz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/otex-vs-xyz/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OTEX correlations · XYZ correlations
