Dropbox Correlations

DBX Stock

USD 24.30 0.11 0.45%

The current 90-days correlation between Dropbox and WixCom is 0.32 (i.e., Weak diversification). 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

Pay attention - limited upside

The correlation between Dropbox and DJI is -0.81 (i.e., Pay attention - limited upside) 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.

Build AI portfolio with Dropbox Stock

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

0.9	DT	Dynatrace Holdings LLC	Pair Corr
0.75	MQ	Marqeta	Pair Corr
0.87	PD	Pagerduty	Pair Corr
0.97	DOMO	Domo Inc	Pair Corr
0.88	MSFT	Microsoft Corp CDR	Pair Corr
0.73	ESTC	Elastic NV	Pair Corr
0.78	NET	Cloudflare Tech Boost	Pair Corr
0.89	TTD	Trade Desk	Pair Corr
0.79	HUBS	HubSpot Earnings Call This Week	Pair Corr
0.82	INTU	Intuit Inc	Pair Corr
0.93	LPSN	LivePerson Earnings Call This Week	Pair Corr
0.84	MNDY	MondayCom	Pair Corr
0.84	MSTR	MicroStrategy Incorporated Aggressive Push	Pair Corr
0.86	PAYC	Paycom Software	Pair Corr
0.77	PHUN	Phunware	Pair Corr
0.85	CSU	Constellation Software	Pair Corr
0.74	RTH	Ras Technology Holdings	Pair Corr
0.88	ADSK	Autodesk	Pair Corr
0.64	BLIV	BeLive Holdings Ordinary	Pair Corr
0.78	TEAM	Atlassian Corp Plc	Pair Corr
0.87	MIM	MiMedia Holdings	Pair Corr
0.88	DDOG	Datadog Tech Boost	Pair Corr

Moving against Dropbox Stock

0.54	TTGI	Turnium Technology	Pair Corr
0.57	ASUR	Asure Software Downward Rally	Pair Corr
0.45	SNPS	Synopsys	Pair Corr
0.32	BWLK	Boardwalktech Software	Pair Corr
0.88	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.77	INTC	Intel	Pair Corr
0.69	NFG	National Fuel Gas	Pair Corr
0.62	KO	Coca Cola Earnings Call This Week	Pair Corr
0.39	MSB	Mesabi Trust	Pair Corr

Related Correlations Analysis

	WIX	MTCH	CFLT	KVYO	DOX	NICE	BLSH	CORZ	INFA	PATH
WIX		0.45	-0.5	0.7	0.21	0.47	0.64	-0.29	-0.15	0.32	WIX
MTCH	0.45		-0.33	0.63	0.06	0.01	0.78	-0.11	-0.36	0.63	MTCH
CFLT	-0.5	-0.33		-0.23	0.33	0.03	-0.35	0.26	0.29	0.23	CFLT
KVYO	0.7	0.63	-0.23		0.39	0.11	0.84	-0.42	0.14	0.73	KVYO
DOX	0.21	0.06	0.33	0.39		0.41	0.26	0.34	0.21	0.41	DOX
NICE	0.47	0.01	0.03	0.11	0.41		0.07	0.17	-0.26	0.02	NICE
BLSH	0.64	0.78	-0.35	0.84	0.26	0.07		-0.16	-0.19	0.69	BLSH
CORZ	-0.29	-0.11	0.26	-0.42	0.34	0.17	-0.16		-0.27	-0.12	CORZ
INFA	-0.15	-0.36	0.29	0.14	0.21	-0.26	-0.19	-0.27		0.18	INFA
PATH	0.32	0.63	0.23	0.73	0.41	0.02	0.69	-0.12	0.18		PATH
	WIX	MTCH	CFLT	KVYO	DOX	NICE	BLSH	CORZ	INFA	PATH

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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

BLSH	+ 0.84	KVYO
BLSH	+ 0.78	MTCH
PATH	+ 0.73	KVYO
KVYO	+ 0.7	WIX
PATH	+ 0.69	BLSH
BLSH	+ 0.64	WIX

High negative correlations

CFLT	- 0.5	WIX
CORZ	- 0.42	KVYO
INFA	- 0.36	MTCH
BLSH	- 0.35	CFLT
CFLT	- 0.33	MTCH
CORZ	- 0.29	WIX

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
WIX	2.53	(0.96)	0.00	(1.37)	0.00	0.00	5.16	(4.83)	22.04
MTCH	1.32	(0.19)	0.00	(0.13)	0.00	0.00	3.04	(2.15)	11.62
CFLT	1.46	0.48	0.27	1.18	0.85	(1.74)	3.75	(2.75)	29.51
KVYO	2.86	(0.79)	0.00	(0.50)	0.00	0.00	4.30	(9.11)	18.32
DOX	1.24	(0.36)	0.00	(0.42)	0.00	0.00	1.55	(3.47)	10.32
NICE	1.79	(0.29)	0.00	(0.19)	0.00	0.00	3.24	(3.81)	18.80
BLSH	3.44	(0.60)	0.00	(0.19)	0.00	0.00	7.51	(6.26)	17.29
CORZ	3.50	(0.24)	0.00	(0.07)	0.00	0.00	7.30	(7.88)	18.78
INFA	0.09	0.00	(0.46)	0.14	0.12	(0.11)	0.16	(0.16)	1.08
PATH	3.08	(0.38)	0.00	(0.19)	0.00	0.00	6.71	(6.09)	34.09

Dropbox Corporate Management

Timothy Regan	Chief Officer	Profile
Bart Esq	Chief Officer	Profile
Ali Dasdan	Chief Officer	Profile
Sarah Schubach	Chief Officer	Profile
Adam Nash	VP Product	Profile
Lev Finkelstein	VP Strategy	Profile

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