ASAN vs TEAM: Correlation
Measured on weekly returns over the past three years, Asana, Inc. (ASAN) and Atlassian Corporation (TEAM) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and TEAM?
On 3 years of weekly data the ASAN/TEAM correlation comes out at 0.60, strong. The past 12 months show a tighter link (0.78) than the 3-year average (0.60). The 5-year figure is 0.62, and annualized covariance runs at 2217.1 %².
In ASAN's tracked universe of 19 assets, TEAM sits right near the top at #2. The last year tells two different stories: TEAM led by 37.0 percentage points, -29.0% for ASAN against +8.0% for TEAM.
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 TEAM: side by side
| ASAN (Asana, Inc.) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | -29.0% | +8.0% |
| 5-year return | -86.9% | -49.3% |
| Volatility (ann.) | 59.9% | 61.5% |
| Beta vs S&P 500 | 1.49 | 1.66 |
| Max drawdown (3Y) | -80.2% | -82.3% |
| Market cap | $2.3B | $47.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASAN | TEAM |
|---|---|---|
| 2022 | -81.5% | -66.3% |
| 2023 | +38.1% | +84.8% |
| 2024 | +6.6% | +2.3% |
| 2025 | -32.4% | -33.4% |
| 2026 | -25.8% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and TEAM good diversifiers for each other?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ASAN and TEAM?
The ASAN/TEAM correlation stands at 0.60 on a 3-year window (1 year: 0.78, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is TEAM a good diversifier for ASAN?
To a limited degree. At 0.60 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ASAN correlations · TEAM correlations
