Dropbox Correlations

DBX Stock

USD 26.42 0.16 0.61%

The correlation of Dropbox is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Dropbox Correlation With Market

Weak diversification

The correlation between Dropbox and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dropbox and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dropbox. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more information on how to buy Dropbox Stock please use our How to Invest in Dropbox guide.

Moving together with Dropbox Stock

0.71	BB	BlackBerry	Pair Corr
0.68	VRSN	VeriSign	Pair Corr
0.72	EXOD	Exodus Movement,	Pair Corr
0.71	FFIV	F5 Networks	Pair Corr
0.65	FOUR	Shift4 Payments	Pair Corr
0.76	DLO	Dlocal	Pair Corr
0.69	NET	Cloudflare	Pair Corr

Moving against Dropbox Stock

0.65	DTSS	Datasea	Pair Corr
0.64	VRNS	Varonis Systems	Pair Corr
0.57	EVTC	Evertec Earnings Call Tomorrow	Pair Corr
0.52	NN	Nextnav Acquisition Corp Downward Rally	Pair Corr
0.44	EVCM	EverCommerce	Pair Corr
0.42	S	SentinelOne	Pair Corr
0.39	EEFT	Euronet Worldwide	Pair Corr
0.64	FMTO	Femto Technologies Symbol Change	Pair Corr
0.54	GEN	Gen Digital	Pair Corr
0.47	FLYW	Flywire Corp	Pair Corr
0.4	GCT	GigaCloud Technology	Pair Corr
0.31	FAASW	DigiAsia Corp Symbol Change	Pair Corr
0.56	SOS	SOS Limited	Pair Corr
0.47	PAY	Paymentus Holdings	Pair Corr
0.36	RPD	Rapid7 Inc	Pair Corr

Related Correlations Analysis

	NEWR	GDDY	OKTA	ACIW	WEX	FLT	CSGS	SQSP	VRSN	AKAM
NEWR		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NEWR
GDDY	0.0		0.23	0.2	0.32	0.0	-0.15	0.0	-0.06	0.66	GDDY
OKTA	0.0	0.23		-0.41	-0.53	0.0	0.76	0.0	0.88	0.46	OKTA
ACIW	0.0	0.2	-0.41		0.64	0.0	-0.12	0.0	-0.66	0.14	ACIW
WEX	0.0	0.32	-0.53	0.64		0.0	-0.61	0.0	-0.65	0.04	WEX
FLT	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	FLT
CSGS	0.0	-0.15	0.76	-0.12	-0.61	0.0		0.0	0.66	0.2	CSGS
SQSP	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SQSP
VRSN	0.0	-0.06	0.88	-0.66	-0.65	0.0	0.66	0.0		0.2	VRSN
AKAM	0.0	0.66	0.46	0.14	0.04	0.0	0.2	0.0	0.2		AKAM
	NEWR	GDDY	OKTA	ACIW	WEX	FLT	CSGS	SQSP	VRSN	AKAM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VRSN	+ 0.88	OKTA
CSGS	+ 0.76	OKTA
AKAM	+ 0.66	GDDY
VRSN	+ 0.66	CSGS
WEX	+ 0.64	ACIW
AKAM	+ 0.46	OKTA

High negative correlations

VRSN	- 0.66	ACIW
VRSN	- 0.65	WEX
CSGS	- 0.61	WEX
WEX	- 0.53	OKTA
ACIW	- 0.41	OKTA
CSGS	- 0.15	GDDY

Risk-Adjusted Indicators

There is a big difference between Dropbox Stock performing well and Dropbox Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Dropbox's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NEWR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GDDY	1.29	(0.05)	0.00	(0.07)	0.00	0.00	2.33	(2.50)	19.22
OKTA	1.60	0.33	0.18	0.52	1.59	(1.83)	4.24	(2.56)	10.08
ACIW	1.36	(0.10)	0.00	(0.11)	0.00	0.00	2.06	(3.04)	8.75
WEX	1.47	(0.25)	0.00	(0.22)	0.00	0.00	2.72	(2.58)	21.56
FLT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSGS	1.14	0.31	0.23	0.48	1.08	(1.28)	2.80	(1.49)	6.91
SQSP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VRSN	0.96	0.39	0.30	1.52	0.80	(1.07)	2.79	(2.17)	7.04
AKAM	1.52	(0.13)	0.00	(0.07)	0.00	0.00	2.47	(2.22)	25.89

Dropbox Corporate Management

Timothy Regan	Chief Officer	Profile
Bart Esq	Chief Officer	Profile
Melanie Collins	Chief Officer	Profile
Mary Becking	VP Legal	Profile
Timothy Young	President	Profile
Timothy CPA	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC