DocuSign Correlations

0XNH Stock

44.35 0.88 1.95%

The current 90-days correlation between DocuSign and Ecclesiastical Insurance Office is -0.3 (i.e., Very good diversification). The correlation of DocuSign is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

DocuSign Correlation With Market

Excellent diversification

The correlation between DocuSign and DJI is -0.7 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DocuSign and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to DocuSign could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace DocuSign when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back DocuSign - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling DocuSign to buy it.

Moving together with DocuSign Stock

0.75	RIGD	Reliance Industries	Pair Corr
0.91	0R15	SoftBank Group Corp	Pair Corr

Moving against DocuSign Stock

0.95	0NX1	Aalberts Industries	Pair Corr
0.94	0R6R	Axfood AB	Pair Corr
0.94	YU	Yu Group PLC	Pair Corr
0.94	WVIA	Winvia Entertainment PLC	Pair Corr
0.94	0QGU	CNH Industrial NV	Pair Corr
0.93	GTE	Gran Tierra Energy Earnings Call This Week	Pair Corr
0.92	BC94	Samsung Electronics	Pair Corr
0.92	SMSN	Samsung Electronics	Pair Corr
0.92	KAP	National Atomic	Pair Corr
0.92	S32	South32	Pair Corr
0.91	0QHL	Corbion NV	Pair Corr
0.9	SMSD	Samsung Electronics	Pair Corr
0.9	0LCV	Taiwan Semiconductor	Pair Corr
0.9	AEP	Anglo-Eastern Plantations	Pair Corr
0.88	0RP8	Liechtensteinische	Pair Corr
0.86	0NR4	Wacker Chemie ON	Pair Corr
0.85	0NY8	Veolia Environnement	Pair Corr
0.84	0J76	Huntington Ingalls	Pair Corr
0.83	TYT	Toyota Motor Corp	Pair Corr
0.81	SRES	Sunrise Resources Plc	Pair Corr
0.79	0QO2	Burkhalter Holding	Pair Corr
0.67	SFOR	S4 Capital PLC	Pair Corr
0.39	0MV8	Technicolor	Pair Corr
0.95	VOD	Vodafone Group PLC	Pair Corr
0.94	COST	Costain Group PLC	Pair Corr
0.93	BRFI	BlackRock Frontiers	Pair Corr
0.92	0IF3	Eastman Chemical	Pair Corr
0.91	0J2R	Alstom SA	Pair Corr
0.9	0R6H	Care Property Invest Earnings Call Tomorrow	Pair Corr
0.9	0JQQ	Archer Daniels Midland	Pair Corr
0.89	0HRZ	Cabot Oil Gas	Pair Corr
0.89	0A7X	Virtu Financial,	Pair Corr
0.89	ELLA	Ecclesiastical Insurance	Pair Corr
0.88	0I3Z	Deutsche Euroshop	Pair Corr

Related Correlations Analysis

	OPTI	0QYJ	PRTC	0MZX	PHP	IHC	ELLA
OPTI		-0.01	0.15	-0.46	-0.26	0.0	-0.38	OPTI
0QYJ	-0.01		-0.17	-0.18	-0.79	-0.52	-0.79	0QYJ
PRTC	0.15	-0.17		0.47	0.5	-0.62	0.22	PRTC
0MZX	-0.46	-0.18	0.47		0.56	-0.46	0.57	0MZX
PHP	-0.26	-0.79	0.5	0.56		0.13	0.88	PHP
IHC	0.0	-0.52	-0.62	-0.46	0.13		0.31	IHC
ELLA	-0.38	-0.79	0.22	0.57	0.88	0.31		ELLA
	OPTI	0QYJ	PRTC	0MZX	PHP	IHC	ELLA

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ELLA	+ 0.88	PHP
ELLA	+ 0.57	0MZX
PHP	+ 0.56	0MZX
PHP	+ 0.5	PRTC
0MZX	+ 0.47	PRTC
ELLA	+ 0.31	IHC

High negative correlations

ELLA	- 0.79	0QYJ
PHP	- 0.79	0QYJ
IHC	- 0.62	PRTC
IHC	- 0.52	0QYJ
IHC	- 0.46	0MZX
0MZX	- 0.46	OPTI

Risk-Adjusted Indicators

There is a big difference between DocuSign Stock performing well and DocuSign Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze DocuSign's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OPTI	2.12	(0.22)	0.00	4.24	0.00	0.00	5.52	(7.14)	27.53
0QYJ	1.90	(0.30)	0.00	(0.45)	0.00	0.00	4.50	(5.42)	13.10
PRTC	1.14	(0.01)	0.00	(0.80)	0.00	0.00	2.42	(2.51)	6.63
0MZX	1.55	0.43	0.22	1.26	1.19	(1.84)	4.70	(2.80)	10.74
PHP	0.68	0.20	0.14	(1.39)	0.50	(0.83)	1.78	(1.54)	6.31
IHC	2.50	0.26	0.03	(0.81)	3.01	(4.36)	9.05	(5.97)	22.73
ELLA	0.39	0.09	0.01	2.78	0.39	(0.85)	1.38	(1.01)	5.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in DocuSign without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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DocuSign Corporate Management

Elected by the shareholders, the DocuSign's board of directors comprises two types of representatives: DocuSign inside directors who are chosen from within the company, and outside directors, selected externally and held independent of DocuSign. The board's role is to monitor DocuSign's management team and ensure that shareholders' interests are well served. DocuSign's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, DocuSign's outside directors are responsible for providing unbiased perspectives on the board's policies.

Pascal Colin	MD VP	Profile
Amy SkeetersBehrens	Executive Impact	Profile
Cynthia Gaylor	Chief Officer	Profile
Dmitri Krakovsky	Chief Officer	Profile
Anwar Akram	Chief Officer	Profile
JD Esq	Sec	Profile

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