Dropbox Correlations

DBX Stock

USD 24.99 0.15 0.60%

The current 90-days correlation between Dropbox and WixCom is 0.43 (i.e., Very 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 -0.84 (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

0.8	U	Unity Software	Pair Corr
0.86	BL	Blackline	Pair Corr
0.91	DT	Dynatrace Holdings LLC	Pair Corr
0.67	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.77	35U	PAR TECHNOLOGY DL	Pair Corr
0.84	MQ	Marqeta Earnings Call This Week	Pair Corr
0.86	PD	Pagerduty	Pair Corr
0.8	VS	Versus Systems	Pair Corr
0.89	WK	Workiva Sell-off Trend	Pair Corr
0.87	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.73	RM	RM Plc	Pair Corr
0.88	2TY	PagerDuty	Pair Corr
0.9	DOCU	DocuSign	Pair Corr
0.96	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.97	1Q5	Dropbox	Pair Corr
0.78	VERI	Veritone	Pair Corr
0.78	VERX	Vertex Tech Boost	Pair Corr
0.81	6NCA	NCINO INC DL	Pair Corr
0.79	DSGX	Descartes Systems	Pair Corr
0.89	LY0	Lyft Inc	Pair Corr
0.82	DTCX	Datacentrex Symbol Change	Pair Corr
0.68	0M5	Bill Holdings	Pair Corr

Moving against Dropbox Stock

0.74	JG	Aurora Mobile	Pair Corr
0.39	XV7	SERESCO 16	Pair Corr
0.94	RNI	OXFORD METRICS LS	Pair Corr
0.76	60Z	UNIFIEDPOST GRP SANV	Pair Corr
0.73	TRB	Tribal Group plc	Pair Corr
0.63	DSG	Dillistone Group PLC	Pair Corr
0.61	LUS1	Lang Schwarz Aktieng	Pair Corr
0.78	89P	CLAVISTER HOLDING	Pair Corr

Related Correlations Analysis

	WIX	MTCH	CFLT	KVYO	DOX	NICE	BLSH	CORZ	INFA	PATH
WIX		0.7	-0.32	0.96	0.64	-0.02	0.84	-0.51	-0.08	0.88	WIX
MTCH	0.7		-0.56	0.61	0.24	-0.02	0.76	-0.29	-0.08	0.67	MTCH
CFLT	-0.32	-0.56		-0.28	0.12	0.46	-0.4	0.27	0.18	-0.13	CFLT
KVYO	0.96	0.61	-0.28		0.7	0.04	0.85	-0.48	-0.02	0.88	KVYO
DOX	0.64	0.24	0.12	0.7		0.37	0.49	0.01	0.3	0.69	DOX
NICE	-0.02	-0.02	0.46	0.04	0.37		-0.1	0.18	0.23	0.12	NICE
BLSH	0.84	0.76	-0.4	0.85	0.49	-0.1		-0.35	-0.05	0.84	BLSH
CORZ	-0.51	-0.29	0.27	-0.48	0.01	0.18	-0.35		0.38	-0.27	CORZ
INFA	-0.08	-0.08	0.18	-0.02	0.3	0.23	-0.05	0.38		0.18	INFA
PATH	0.88	0.67	-0.13	0.88	0.69	0.12	0.84	-0.27	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

KVYO	+ 0.96	WIX
PATH	+ 0.88	WIX
PATH	+ 0.88	KVYO
BLSH	+ 0.85	KVYO
BLSH	+ 0.84	WIX
PATH	+ 0.84	BLSH

High negative correlations

CFLT	- 0.56	MTCH
CORZ	- 0.51	WIX
CORZ	- 0.48	KVYO
BLSH	- 0.4	CFLT
CORZ	- 0.35	BLSH
CFLT	- 0.32	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	2.41	(0.51)	0.00	(0.38)	0.00	0.00	5.78	(4.83)	14.00
MTCH	1.42	(0.10)	0.00	(0.01)	0.00	0.00	3.04	(2.98)	11.59
CFLT	1.24	0.60	0.57	(3.02)	0.00	(1.44)	2.56	(0.90)	29.51
KVYO	3.12	(0.43)	0.00	0.69	0.00	0.00	5.07	(9.11)	18.32
DOX	1.19	(0.20)	0.00	(0.11)	0.00	0.00	1.69	(2.64)	10.32
NICE	1.69	0.13	0.04	0.29	2.21	(1.78)	3.38	(2.84)	16.08
BLSH	3.23	(0.09)	0.00	(1.05)	0.00	0.00	7.51	(5.94)	20.35
CORZ	3.39	0.11	0.06	0.13	3.65	(3.91)	7.30	(7.56)	18.78
INFA	0.09	(0.01)	(0.52)	(0.16)	0.12	(0.11)	0.16	(0.16)	1.08
PATH	3.21	(0.31)	0.00	(0.13)	0.00	0.00	7.52	(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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