Asana Correlations

ASAN Stock

USD 13.93 0.15 1.09%

The current 90-days correlation between Asana Inc and Bill Com Holdings is 0.31 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Asana moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Asana Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Asana Correlation With Market

Poor diversification

The correlation between Asana Inc and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asana Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Asana Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Asana Stock

0.67	DJCO	Daily Journal Corp	Pair Corr
0.91	DV	DoubleVerify Holdings	Pair Corr
0.85	EB	Eventbrite Class A	Pair Corr
0.71	ML	MoneyLion Downward Rally	Pair Corr
0.88	PD	Pagerduty Earnings Call This Week	Pair Corr
0.68	WK	Workiva	Pair Corr
0.77	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.66	DTRK	DATATRAK International	Pair Corr
0.7	VMEO	Vimeo Inc	Pair Corr
0.76	VTSI	VirTra Inc	Pair Corr
0.65	EGAN	eGain	Pair Corr
0.65	WDAY	Workday Earnings Call This Week	Pair Corr

Moving against Asana Stock

0.41	U	Unity Software Buyout Trend	Pair Corr
0.39	QH	Quhuo	Pair Corr
0.42	XELAP	Exela Technologies Earnings Call This Week	Pair Corr
0.34	ELCO	Elcom International	Pair Corr

Related Correlations Analysis

	BILL	DDOG	GTLB	TEAM	NOW	HUBS	WDAY	TTD	SNOW	U
BILL		0.56	0.77	0.9	0.81	0.95	0.57	0.67	0.66	-0.01	BILL
DDOG	0.56		0.56	0.74	0.77	0.71	-0.08	0.86	0.68	0.47	DDOG
GTLB	0.77	0.56		0.84	0.85	0.81	0.31	0.74	0.47	0.27	GTLB
TEAM	0.9	0.74	0.84		0.89	0.94	0.39	0.85	0.66	0.17	TEAM
NOW	0.81	0.77	0.85	0.89		0.92	0.2	0.91	0.58	0.45	NOW
HUBS	0.95	0.71	0.81	0.94	0.92		0.42	0.83	0.67	0.22	HUBS
WDAY	0.57	-0.08	0.31	0.39	0.2	0.42		0.05	0.18	-0.44	WDAY
TTD	0.67	0.86	0.74	0.85	0.91	0.83	0.05		0.56	0.55	TTD
SNOW	0.66	0.68	0.47	0.66	0.58	0.67	0.18	0.56		0.04	SNOW
U	-0.01	0.47	0.27	0.17	0.45	0.22	-0.44	0.55	0.04		U
	BILL	DDOG	GTLB	TEAM	NOW	HUBS	WDAY	TTD	SNOW	U

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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

HUBS	+ 0.95	BILL
HUBS	+ 0.94	TEAM
HUBS	+ 0.92	NOW
TTD	+ 0.91	NOW
TEAM	+ 0.9	BILL
NOW	+ 0.89	TEAM

High negative correlations

U	- 0.44	WDAY
WDAY	- 0.08	DDOG
U	- 0.01	BILL

Risk-Adjusted Indicators

There is a big difference between Asana Stock performing well and Asana 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 Asana'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
BILL	2.48	0.74	0.38	0.48	1.57	(3.08)	7.45	(2.97)	20.98
DDOG	1.53	0.18	0.08	0.33	1.72	(1.69)	3.94	(2.63)	8.50
GTLB	2.20	0.33	0.18	0.27	1.87	(2.66)	5.93	(3.26)	26.58
TEAM	1.96	0.60	0.39	0.50	1.22	(2.69)	3.90	(2.40)	22.97
NOW	1.33	0.21	0.15	0.28	1.22	(1.59)	3.04	(2.24)	8.12
HUBS	1.46	0.47	0.35	0.64	0.90	(1.83)	3.69	(2.30)	10.59
WDAY	1.32	0.09	0.06	0.16	1.35	(1.46)	2.45	(1.91)	16.94
TTD	1.49	0.22	0.10	0.29	1.78	(1.62)	3.36	(3.12)	12.33
SNOW	1.81	(0.13)	(0.02)	0.00	3.59	(1.54)	3.85	(3.44)	17.08
U	3.27	0.26	0.10	0.21	3.29	(3.69)	8.52	(5.61)	17.78

Asana Corporate Management

Prashant Pandey	Head Engineering	Profile
Alex Hood	Head Product	Profile
Ed McDonnell	Head Revenue	Profile
Amit Singh	Director	Profile
Sydney Carey	Independent Director	Profile
Lorrie Norrington	Lead Independent Director	Profile

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