DocuSign Correlations

Stocks . Brazil . 
Stock . DocuSign
D1OC34 Stock  BRL 29.58  0.60  2.07%   
The current 90-days correlation between DocuSign and Shopify is 0.35 (i.e., 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.

DocuSign Correlation With Market

Good diversification

The correlation between DocuSign and DJI is -0.09 (i.e., 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.
  
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

  0.96N1OW34 ServiceNowPairCorr
  0.91S2HO34 ShopifyPairCorr
  0.89S2NW34 SnowflakePairCorr
  0.92A1UT34 AutodeskPairCorr
  0.93T1AM34 Atlassian PlcPairCorr
  0.91T2TD34 Trade DeskPairCorr
  0.92Z1OM34 Zoom Video CommunicationsPairCorr
  0.77U2ST34 Unity SoftwarePairCorr
  0.96P2LT34 Palantir TechnologiesPairCorr
  0.62MAPT4 Cemepe InvestimentosPairCorr
  0.85ACNB34 Accenture plcPairCorr
  0.76GGBR3 Gerdau SAPairCorr
  0.87MSBR34 Morgan StanleyPairCorr
  0.9CAON34 Capital One FinancialPairCorr
  0.83TSMC34 Taiwan SemiconductorPairCorr
  0.95AMZO34 Amazon IncPairCorr
  0.94COWC34 Costco WholesalePairCorr
  0.8A1VB34 AvalonBay CommunitiesPairCorr
  0.69PSSA3 Porto Seguro SAPairCorr
  0.91AAPL34 Apple IncPairCorr
  0.69FHER3 Fertilizantes HeringerPairCorr
  0.9MSFT34 MicrosoftPairCorr
  0.94WALM34 WalmartPairCorr
  0.92TSLA34 Tesla IncPairCorr
  0.81CTKA3 Karsten SAPairCorr
  0.91HONB34 Honeywell InternationalPairCorr
  0.92VISA34 Visa IncPairCorr
  0.8A1VY34 A1VY34PairCorr

Moving against DocuSign Stock

  0.55OSXB3 OSX Brasil SAPairCorr
  0.5U1BE34 Uber TechnologiesPairCorr
  0.48PDGR3 PDG Realty SA SplitPairCorr
  0.33ESTR4 Manufatura de BrinquedosPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
N1OW34  1.51  0.47  0.28  1.28  1.15 
(1.79)
 3.65 
(2.09)
 8.81 
S2HO34  2.32  0.78  0.32 (0.89) 1.86 
(2.85)
 5.08 
(3.59)
 26.08 
S2NW34  2.39  0.80  0.31  1.04  1.98 
(2.84)
 4.87 
(3.21)
 40.54 
A1UT34  1.26  0.34  0.15  1.31  1.67 
(1.33)
 2.76 
(2.31)
 11.43 
T1AM34  1.87  0.89  0.25  3.27  0.95 
(3.54)
 4.98 
(2.82)
 25.03 
T2TD34  1.69  0.35  0.15  0.63  1.84 
(1.94)
 4.91 
(3.43)
 13.18 
Z1OM34  1.75  0.59  0.23  11.18  1.68 
(2.06)
 4.92 
(3.44)
 11.42 
U2ST34  3.11  0.35  0.09  0.60  3.26 
(3.58)
 7.26 
(5.84)
 22.58 
D1OC34  2.37  1.04  0.40 (2.21) 1.69 
(3.08)
 5.24 
(3.48)
 35.74 

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.
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