DocuSign Correlations

DOCU Stock

USD 47.13 1.59 3.49%

The current 90-days correlation between DocuSign and Bentley Systems is 0.53 (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

Very good diversification

The correlation between DocuSign and DJI is -0.5 (i.e., Very good 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 private.

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

Moving together with DocuSign Stock

0.72	U	Unity Software	Pair Corr
0.91	DT	Dynatrace Holdings LLC	Pair Corr
0.86	MQ	Marqeta	Pair Corr
0.76	PD	Pagerduty	Pair Corr
0.76	DOMO	Domo Inc	Pair Corr
0.66	ESTC	Elastic NV	Pair Corr
0.82	TTD	Trade Desk	Pair Corr
0.92	HUBS	HubSpot	Pair Corr
0.97	INTU	Intuit Inc	Pair Corr
0.77	LPSN	LivePerson	Pair Corr
0.85	MNDY	MondayCom Earnings Call Tomorrow	Pair Corr
0.91	PAYC	Paycom Software Earnings Call This Week	Pair Corr
0.7	PHUN	Phunware	Pair Corr
0.93	ADSK	Autodesk	Pair Corr
0.95	TEAM	Atlassian Corp Plc	Pair Corr

Moving against DocuSign Stock

0.62	SLF	Sun Life Financial Earnings Call This Week	Pair Corr
0.5	ASUR	Asure Software	Pair Corr
0.94	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.92	CVX	Chevron Corp	Pair Corr
0.84	JNJ	Johnson Johnson	Pair Corr
0.83	CAT	Caterpillar	Pair Corr
0.83	KO	Coca Cola Aggressive Push	Pair Corr
0.75	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.74	INTC	Intel Aggressive Push	Pair Corr
0.72	PG	Procter Gamble	Pair Corr
0.67	MRK	Merck Company Aggressive Push	Pair Corr
0.63	BA	Boeing	Pair Corr
0.59	HD	Home Depot	Pair Corr
0.52	GLUC	Glucose Health	Pair Corr
0.51	CSCO	Cisco Systems Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BSY	DT	U	FFIV	GTM	MANH	KSPI	OKTA	DUOL	PEGA
BSY		0.9	0.4	-0.65	0.85	0.78	-0.33	-0.05	0.89	0.69	BSY
DT	0.9		0.55	-0.67	0.88	0.84	-0.25	-0.07	0.9	0.84	DT
U	0.4	0.55		-0.11	0.68	0.79	0.37	0.42	0.5	0.8	U
FFIV	-0.65	-0.67	-0.11		-0.41	-0.51	0.63	0.65	-0.52	-0.34	FFIV
GTM	0.85	0.88	0.68	-0.41		0.88	0.08	0.25	0.87	0.92	GTM
MANH	0.78	0.84	0.79	-0.51	0.88		0.06	0.2	0.74	0.85	MANH
KSPI	-0.33	-0.25	0.37	0.63	0.08	0.06		0.71	-0.22	0.13	KSPI
OKTA	-0.05	-0.07	0.42	0.65	0.25	0.2	0.71		0.03	0.28	OKTA
DUOL	0.89	0.9	0.5	-0.52	0.87	0.74	-0.22	0.03		0.8	DUOL
PEGA	0.69	0.84	0.8	-0.34	0.92	0.85	0.13	0.28	0.8		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

PEGA	+ 0.92	GTM
DT	+ 0.9	BSY
DUOL	+ 0.9	DT
DUOL	+ 0.89	BSY
GTM	+ 0.88	DT
MANH	+ 0.88	GTM

High negative correlations

FFIV	- 0.67	DT
FFIV	- 0.65	BSY
DUOL	- 0.52	FFIV
MANH	- 0.51	FFIV
GTM	- 0.41	FFIV
PEGA	- 0.34	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	1.37	(0.71)	0.00	(0.55)	0.00	0.00	2.89	(3.68)	10.70
DT	1.59	(0.65)	0.00	(0.96)	0.00	0.00	2.52	(4.08)	13.36
U	3.40	(0.66)	0.00	(0.20)	0.00	0.00	7.27	(7.22)	42.31
FFIV	1.43	0.08	0.05	0.15	1.44	(1.55)	3.75	(2.45)	11.43
GTM	2.06	(0.82)	0.00	(0.43)	0.00	0.00	4.11	(5.69)	17.95
MANH	1.53	(0.40)	0.00	(0.33)	0.00	0.00	2.52	(4.20)	13.27
KSPI	1.35	(0.09)	0.00	(0.02)	0.00	0.00	3.31	(2.58)	9.17
OKTA	1.66	(0.16)	0.00	(0.04)	0.00	0.00	4.32	(3.42)	12.06
DUOL	2.70	(1.23)	0.00	(0.70)	0.00	0.00	4.69	(5.75)	25.49
PEGA	2.13	(0.74)	0.00	(0.58)	0.00	0.00	4.59	(6.08)	15.04

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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