DocuSign Correlations

DOCU Stock

USD 44.12 0.70 1.56%

The current 90-days correlation between DocuSign and Bentley Systems is 0.51 (i.e., Very weak 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 -0.58 (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.

Build AI portfolio with DocuSign Stock

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

For more information on how to buy DocuSign Stock please use our How to Invest in DocuSign guide.

Moving together with DocuSign Stock

0.88	U	Unity Software	Pair Corr
0.61	BGE	Bridge Saas	Pair Corr
0.66	9NY	BYTES TECHGRP LS	Pair Corr
0.95	BL	Blackline	Pair Corr
0.93	DT	Dynatrace Holdings LLC	Pair Corr
0.76	DV	DoubleVerify Holdings	Pair Corr
0.86	35U	PAR TECHNOLOGY DL Earnings Call This Week	Pair Corr
0.94	MQ	Marqeta	Pair Corr
0.86	PD	Pagerduty	Pair Corr
0.65	QH	Quhuo	Pair Corr
0.72	VS	Versus Systems	Pair Corr
0.93	WK	Workiva	Pair Corr
0.83	DMRC	Digimarc	Pair Corr
0.86	RM	RM Plc	Pair Corr
0.85	2TY	PagerDuty	Pair Corr
0.82	DOMO	Domo Inc Downward Rally	Pair Corr
0.83	1Q5	Dropbox	Pair Corr
0.86	VERI	Veritone	Pair Corr
0.86	VERX	Vertex	Pair Corr
0.9	6NCA	NCINO INC DL	Pair Corr
0.88	DSGX	Descartes Systems	Pair Corr
0.83	LY0	Lyft Inc	Pair Corr
0.8	0M5	Bill Holdings	Pair Corr
0.83	AN5	Alpha Systems	Pair Corr

Moving against DocuSign Stock

0.84	60Z	UNIFIEDPOST GRP SANV Earnings Call This Week	Pair Corr
0.82	RNI	OXFORD METRICS LS	Pair Corr
0.78	JG	Aurora Mobile	Pair Corr
0.7	DSG	Dillistone Group PLC	Pair Corr
0.59	XV7	SERESCO 16	Pair Corr
0.51	TRB	Tribal Group plc	Pair Corr
0.46	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.45	LUS1	Lang Schwarz Aktieng	Pair Corr
0.75	89P	CLAVISTER HOLDING	Pair Corr
0.62	MKQ	Mitek Systems	Pair Corr
0.4	EGHT	8x8 Common Stock	Pair Corr

Related Correlations Analysis

	BSY	DT	U	FFIV	GTM	MANH	KSPI	OKTA	DUOL	PEGA
BSY		0.93	0.77	-0.73	0.87	0.92	0.08	-0.03	0.9	0.81	BSY
DT	0.93		0.77	-0.7	0.87	0.88	0.07	-0.04	0.94	0.88	DT
U	0.77	0.77		-0.32	0.92	0.91	0.48	0.36	0.87	0.88	U
FFIV	-0.73	-0.7	-0.32		-0.47	-0.55	0.45	0.6	-0.6	-0.42	FFIV
GTM	0.87	0.87	0.92	-0.47		0.94	0.42	0.25	0.92	0.93	GTM
MANH	0.92	0.88	0.91	-0.55	0.94		0.32	0.21	0.89	0.88	MANH
KSPI	0.08	0.07	0.48	0.45	0.42	0.32		0.75	0.17	0.36	KSPI
OKTA	-0.03	-0.04	0.36	0.6	0.25	0.21	0.75		0.05	0.27	OKTA
DUOL	0.9	0.94	0.87	-0.6	0.92	0.89	0.17	0.05		0.92	DUOL
PEGA	0.81	0.88	0.88	-0.42	0.93	0.88	0.36	0.27	0.92		PEGA
	BSY	DT	U	FFIV	GTM	MANH	KSPI	OKTA	DUOL	PEGA

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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

DUOL	+ 0.94	DT
MANH	+ 0.94	GTM
DT	+ 0.93	BSY
PEGA	+ 0.93	GTM
MANH	+ 0.92	BSY
GTM	+ 0.92	U

High negative correlations

FFIV	- 0.73	BSY
FFIV	- 0.7	DT
DUOL	- 0.6	FFIV
MANH	- 0.55	FFIV
GTM	- 0.47	FFIV
PEGA	- 0.42	FFIV

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
BSY	1.40	(0.42)	0.00	(0.34)	0.00	0.00	3.02	(3.09)	10.70
DT	1.59	(0.38)	0.00	(0.56)	0.00	0.00	2.62	(3.61)	13.36
U	3.69	(1.07)	0.00	(0.40)	0.00	0.00	7.12	(8.22)	35.96
FFIV	1.54	0.18	0.10	0.16	1.79	(1.63)	3.94	(2.45)	15.39
GTM	2.20	(0.71)	0.00	(0.38)	0.00	0.00	4.11	(6.08)	17.95
MANH	1.66	(0.33)	0.00	(0.26)	0.00	0.00	2.52	(4.25)	13.27
KSPI	1.40	(0.03)	(0.03)	0.00	1.53	(1.66)	3.48	(2.58)	9.17
OKTA	1.75	(0.07)	0.00	(0.01)	0.00	0.00	4.32	(3.71)	12.06
DUOL	2.38	(0.76)	0.00	(0.67)	0.00	0.00	4.69	(5.75)	16.65
PEGA	2.55	(0.40)	0.00	(0.42)	0.00	0.00	5.03	(6.09)	17.31

DocuSign Corporate Management

Pascal Colin	MD VP	Profile
Amy SkeetersBehrens	Executive Impact	Profile
Dmitri Krakovsky	Chief Officer	Profile
Anwar Akram	Chief Officer	Profile

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