DLB vs. CPAY

Last updated Jun 13, 2026

DLB (Dolby Laboratories, Inc.) and CPAY (Corpay, Inc.) are both stocks. Both are in the Technology sector — DLB in Information Technology Services, CPAY in Software - Infrastructure. Over the past 10 years, DLB returned 2.40%/yr vs 9.48%/yr for CPAY. At a 0.41 correlation, their price movements are largely independent.

Performance

DLB vs. CPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dolby Laboratories, Inc. (DLB) and Corpay, Inc. (CPAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DLB achieves a -17.26% return, which is significantly lower than CPAY's 18.34% return. Over the past 10 years, DLB has underperformed CPAY with an annualized return of 2.40%, while CPAY has yielded a comparatively higher 9.48% annualized return.

DLB

• 1D: -0.40%
• 1M: -3.24%
• YTD: -17.26%
• 6M: -21.32%
• 1Y: -28.66%
• 3Y*: -13.16%
• 5Y*: -10.74%
• 10Y*: 2.40%

CPAY

• 1D: 1.50%
• 1M: 7.50%
• YTD: 18.34%
• 6M: 12.66%
• 1Y: 1.73%
• 3Y*: 14.01%
• 5Y*: 5.55%
• 10Y*: 9.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DLB vs. CPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DLB Dolby Laboratories, Inc.	-17.26%	-16.27%	-7.95%	23.82%	-24.90%	-0.99%	42.99%	12.63%	0.78%	38.73%
CPAY Corpay, Inc.	18.34%	-11.08%	19.75%	53.86%	-17.94%	-17.96%	-5.18%	54.92%	-3.49%	35.97%

Correlation

The correlation between DLB and CPAY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Dec 15, 2010	0.41

Fundamentals

Market Cap DLB : $5.02B CPAY : $24.37B
EPS DLB : $2.53 CPAY : $16.74
PE Ratio DLB : 20.79 CPAY : 21.27
PEG Ratio DLB : 30.68 CPAY : 1.98
PS Ratio DLB : 3.71 CPAY : 5.23
PB Ratio DLB : 1.92 CPAY : 6.94
Total Revenue (TTM) DLB : $1.36B CPAY : $4.78B
Gross Profit (TTM) DLB : $1.19B CPAY : $2.57B
EBITDA (TTM) DLB : $347.35M CPAY : $2.55B

Return for Risk

DLB vs. CPAY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DLB

DLB Risk / Return Rank: 4
DLB Sharpe Ratio Rank: 3
DLB Sortino Ratio Rank: 6
DLB Omega Ratio Rank: 6
DLB Calmar Ratio Rank: 4
DLB Martin Ratio Rank: 1

CPAY

CPAY Risk / Return Rank: 42
CPAY Sharpe Ratio Rank: 45
CPAY Sortino Ratio Rank: 40
CPAY Omega Ratio Rank: 39
CPAY Calmar Ratio Rank: 44
CPAY Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DLB vs. CPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dolby Laboratories, Inc. (DLB) and Corpay, Inc. (CPAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DLB	CPAY	Difference
Sharpe ratio: Return per unit of total volatility	-1.14	0.05	-1.19
Sortino ratio: Return per unit of downside risk	-1.51	0.35	-1.87
Omega ratio: Gain probability vs. loss probability	0.80	1.04	-0.24
Calmar ratio: Return relative to maximum drawdown	-0.96	0.07	-1.02
Martin ratio: Return relative to average drawdown	-1.93	0.15	-2.09

DLB vs. CPAY - Sharpe Ratio Comparison

The current DLB Sharpe Ratio is -1.14, which is lower than the CPAY Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of DLB and CPAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DLB vs. CPAY - Drawdown Comparison

The maximum DLB drawdown since its inception was -62.19%, which is greater than CPAY's maximum drawdown of -50.13%. Use the drawdown chart below to compare losses from any high point for DLB and CPAY.

Drawdown Indicators

	DLB	CPAY	Difference
Max Drawdown Largest peak-to-trough decline	-62.19%	-50.13%	-12.06%
Max Drawdown (1Y) Largest decline over 1 year	-30.11%	-25.90%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	-38.92%	-34.54%	-4.38%
Max Drawdown (5Y) Largest decline over 5 years	-44.41%	-41.63%	-2.78%
Max Drawdown (10Y) Largest decline over 10 years	-45.04%	-50.13%	+5.09%
Current Drawdown Current decline from peak	-45.04%	-8.58%	-36.46%
Average Drawdown Average peak-to-trough decline	-22.37%	-13.33%	-9.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.84%	12.35%	+2.49%

Volatility

DLB vs. CPAY - Volatility Comparison

The current volatility for Dolby Laboratories, Inc. (DLB) is 6.02%, while Corpay, Inc. (CPAY) has a volatility of 9.20%. This indicates that DLB experiences smaller price fluctuations and is considered to be less risky than CPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DLB	CPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	9.20%	-3.18%
Volatility (6M) Calculated over the trailing 6-month period	20.37%	29.53%	-9.16%
Volatility (1Y) Calculated over the trailing 1-year period	25.14%	37.70%	-12.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.03%	32.43%	-7.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.61%	32.93%	-6.32%

Dividends

DLB vs. CPAY - Dividend Comparison

DLB's dividend yield for the trailing twelve months is around 2.68%, while CPAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPAY Corpay, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DLB Dolby Laboratories, Inc.	2.68%	2.10%	1.57%	1.29%	1.45%	0.96%	0.91%	1.15%	1.08%	0.94%	1.11%	1.25%

Financials

DLB vs. CPAY - Profitability Comparison

The chart below illustrates the profitability comparison between Dolby Laboratories, Inc. and Corpay, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

DLB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Dolby Laboratories, Inc. reported a gross profit of 350.90M and revenue of 395.63M. Therefore, the gross margin over that period was 88.7%.

CPAY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Corpay, Inc. reported a gross profit of 0.00 and revenue of 1.26B. Therefore, the gross margin over that period was 0.0%.

DLB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Dolby Laboratories, Inc. reported an operating income of 112.95M and revenue of 395.63M, resulting in an operating margin of 28.6%.

CPAY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Corpay, Inc. reported an operating income of 636.17M and revenue of 1.26B, resulting in an operating margin of 50.5%.

DLB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Dolby Laboratories, Inc. reported a net income of 94.92M and revenue of 395.63M, resulting in a net margin of 24.0%.

CPAY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Corpay, Inc. reported a net income of 350.07M and revenue of 1.26B, resulting in a net margin of 27.8%.

Frequently Asked Questions

Can I hold both DLB and CPAY in my portfolio?

DLB and CPAY have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DLB or CPAY?

CPAY has higher volatility (9.20%) compared to DLB (6.02%). In terms of maximum drawdown, DLB dropped -62.19% vs CPAY's -50.13%.

Which has better risk-adjusted returns?

CPAY currently has the higher Sharpe Ratio (0.05 vs -1.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.