ASAN vs DOCU: Correlation
Asana, Inc. (ASAN) and DocuSign, Inc. (DOCU) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and DOCU?
Across a 3-year window, the weekly returns of ASAN and DOCU correlate at 0.58, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.68 versus 0.58 over 3 years. Stretching to 5 years gives 0.65, with an annualized covariance of 1659.1 %².
Few assets follow ASAN as closely as DOCU, which ranks #3 of 19 tracked partners. Over the last 12 months DOCU came out ahead by 14.4 percentage points (-29.0% against -14.6%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASAN vs DOCU: side by side
| ASAN (Asana, Inc.) | DOCU (DocuSign, Inc.) | |
|---|---|---|
| 1-year return | -29.0% | -14.6% |
| 5-year return | -86.9% | -79.0% |
| Volatility (ann.) | 59.9% | 48.0% |
| Beta vs S&P 500 | 1.49 | 1.22 |
| Max drawdown (3Y) | -80.2% | -61.0% |
| Market cap | $2.3B | $12.2B |
| P/E (trailing) | – | 41.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASAN | DOCU |
|---|---|---|
| 2022 | -81.5% | -63.6% |
| 2023 | +38.1% | +7.3% |
| 2024 | +6.6% | +51.3% |
| 2025 | -32.4% | -23.9% |
| 2026 | -25.8% | -6.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and DOCU good diversifiers for each other?
Only partially. A correlation of 0.58 means ASAN and DOCU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ASAN and DOCU?
As of 2026-08-27, the correlation of weekly returns between ASAN and DOCU is 0.58 over 3 years, 0.68 over 1 year and 0.65 over 5 years.
Is DOCU a good diversifier for ASAN?
Only partially. A correlation of 0.58 means ASAN and DOCU share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: ASAN correlations · DOCU correlations
