Octopuses are solitary animals and spend about 40 percent of their time hiding under rocks and in dens. However, they aren’t very territorial. Some are pretty social, and you may find them in groups of 40. The widely accepted collective noun for a group of octopuses being a "Consortium".

A consortium is a Latin word for “partnership,” fitting for octopuses. These groups often develop for a common goal, for example, when they get forced to share resources or for hunting and mating. This partnership shows an octopus’s social nature and how they can work together for a common cause.

More Info: a-z-animals.com