ASAN vs ETR: Correlation
Asana, Inc. (ASAN) and Entergy (ETR) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and ETR?
Across a 3-year window, the weekly returns of ASAN and ETR correlate at -0.19, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.19 over 3 years. Stretching to 5 years gives -0.02, with an annualized covariance of -226.0 %².
Out of 19 assets tracked against ASAN, ETR lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with ETR ahead by 50.9 points (-29.0% versus +21.9%). Note the risk asymmetry: ASAN runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 ETR: side by side
| ASAN (Asana, Inc.) | ETR (Entergy) | |
|---|---|---|
| 1-year return | -29.0% | +21.9% |
| 5-year return | -86.9% | +132.0% |
| Volatility (ann.) | 59.9% | 19.7% |
| Beta vs S&P 500 | 1.49 | 0.22 |
| Max drawdown (3Y) | -80.2% | -10.6% |
| Market cap | $2.3B | $49.7B |
| P/E (trailing) | – | 27.2 |
| Dividend yield | 0.00% | 2.35% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | ASAN | ETR |
|---|---|---|
| 2022 | -81.5% | +3.6% |
| 2023 | +38.1% | -6.1% |
| 2024 | +6.6% | +56.0% |
| 2025 | -32.4% | +25.3% |
| 2026 | -25.8% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and ETR good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ASAN and ETR?
As of 2026-08-27, the correlation of weekly returns between ASAN and ETR is -0.19 over 3 years, -0.42 over 1 year and -0.02 over 5 years.
Is ETR a good diversifier for ASAN?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: ASAN correlations · ETR correlations
