ASAN vs ZM: Correlation
Measured on weekly returns over the past three years, Asana, Inc. (ASAN) and Zoom Communications, Inc. (ZM) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and ZM?
Over the past 3 years, ASAN and ZM moved with a correlation of 0.49, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 1052.0 %².
Within ASAN's tracked universe of 19 assets, ZM comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ZM ahead by 52.9 points (-29.0% versus +23.9%). Note the risk asymmetry: ASAN runs 1.7 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 ZM: side by side
| ASAN (Asana, Inc.) | ZM (Zoom Communications, Inc.) | |
|---|---|---|
| 1-year return | -29.0% | +23.9% |
| 5-year return | -86.9% | -71.1% |
| Volatility (ann.) | 59.9% | 35.5% |
| Beta vs S&P 500 | 1.49 | 0.96 |
| Max drawdown (3Y) | -80.2% | -25.9% |
| Market cap | $2.3B | $29.3B |
| P/E (trailing) | – | 9.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASAN | ZM |
|---|---|---|
| 2022 | -81.5% | -63.2% |
| 2023 | +38.1% | +6.2% |
| 2024 | +6.6% | +13.5% |
| 2025 | -32.4% | +5.7% |
| 2026 | -25.8% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and ZM good diversifiers for each other?
Reasonably. At 0.49, ASAN and ZM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASAN and ZM?
As of 2026-08-27, the correlation of weekly returns between ASAN and ZM is 0.49 over 3 years, 0.46 over 1 year and 0.57 over 5 years.
Is ZM a good diversifier for ASAN?
Reasonably. At 0.49, ASAN and ZM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asan-vs-zm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asan-vs-zm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASAN correlations · ZM correlations
