Dropbox Correlations

DBX Stock

USD 27.06 0.13 0.48%

The current 90-days correlation between Dropbox and Box Inc is 0.31 (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

Modest diversification

The correlation between Dropbox and DJI is 0.22 (i.e., Modest 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.

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

0.74	IOT	Samsara	Pair Corr
0.8	PAY	Paymentus Holdings	Pair Corr

Moving against Dropbox Stock

0.32	NN	Nextnav Acquisition Corp	Pair Corr
0.59	VHC	VirnetX Holding Corp Tech Boost	Pair Corr
0.47	RXT	Rackspace Technology	Pair Corr
0.31	LIDRW	AEye Inc	Pair Corr
0.31	TLS	Telos Corp	Pair Corr

Related Correlations Analysis

	BOX	GDDY	FFIV	GEN	CCCS	SPOT	DOCU	TTCFQ	LYFT
BOX		0.04	0.63	0.62	0.05	0.61	0.13	0.0	0.51	BOX
GDDY	0.04		-0.13	-0.06	-0.26	-0.2	0.7	0.0	0.28	GDDY
FFIV	0.63	-0.13		0.93	0.6	0.88	-0.02	0.0	0.79	FFIV
GEN	0.62	-0.06	0.93		0.55	0.87	0.01	0.0	0.84	GEN
CCCS	0.05	-0.26	0.6	0.55		0.57	-0.29	0.0	0.31	CCCS
SPOT	0.61	-0.2	0.88	0.87	0.57		-0.23	0.0	0.65	SPOT
DOCU	0.13	0.7	-0.02	0.01	-0.29	-0.23		0.0	0.35	DOCU
TTCFQ	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TTCFQ
LYFT	0.51	0.28	0.79	0.84	0.31	0.65	0.35	0.0		LYFT
	BOX	GDDY	FFIV	GEN	CCCS	SPOT	DOCU	TTCFQ	LYFT

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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

GEN	+ 0.93	FFIV
SPOT	+ 0.88	FFIV
SPOT	+ 0.87	GEN
LYFT	+ 0.84	GEN
LYFT	+ 0.79	FFIV
DOCU	+ 0.7	GDDY

High negative correlations

DOCU	- 0.29	CCCS
CCCS	- 0.26	GDDY
DOCU	- 0.23	SPOT
SPOT	- 0.2	GDDY
FFIV	- 0.13	GDDY
GEN	- 0.06	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
BOX	1.18	0.08	0.00	0.36	1.14	(1.40)	1.71	(2.26)	19.88
GDDY	1.18	(0.11)	0.00	(0.03)	0.00	0.00	2.42	(2.48)	12.96
FFIV	1.02	0.09	0.07	0.23	1.03	(1.15)	2.46	(1.81)	6.47
GEN	1.19	0.19	0.13	0.32	1.22	(1.35)	2.82	(1.95)	11.57
CCCS	1.46	(0.02)	0.01	0.12	2.36	(1.53)	3.63	(2.42)	14.13
SPOT	2.08	0.32	0.12	0.75	1.97	(2.59)	5.38	(3.70)	12.79
DOCU	2.05	(0.03)	0.00	0.11	3.89	(2.13)	4.38	(4.05)	24.45
TTCFQ	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LYFT	2.20	0.42	0.18	0.62	1.67	(2.66)	4.35	(3.74)	32.88

Dropbox Corporate Management

Timothy Regan	Chief Officer	Profile
Bart Esq	Chief Officer	Profile
Ali Dasdan	Chief Officer	Profile
Adam Nash	VP Product	Profile
Lev Finkelstein	VP Strategy	Profile
Karan Kapoor	Head Relations	Profile

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