ASAN vs. MSFT

Last updated Jun 3, 2026

ASAN (Asana, Inc.) and MSFT (Microsoft Corporation) are both stocks. Both are in the Technology sector — ASAN in Software - Application, MSFT in Software - Infrastructure. Over the past 5 years, ASAN returned -25.09%/yr vs 13.35%/yr for MSFT. At a 0.43 correlation, their price movements are largely independent.

Performance

ASAN vs. MSFT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Asana, Inc. (ASAN) and Microsoft Corporation (MSFT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASAN achieves a -36.69% return, which is significantly lower than MSFT's -8.34% return.

ASAN

• 1D: -4.30%
• 1M: 24.18%
• YTD: -36.69%
• 6M: -35.18%
• 1Y: -52.77%
• 3Y*: -26.88%
• 5Y*: -25.09%
• 10Y*: —

MSFT

• 1D: -4.17%
• 1M: 6.71%
• YTD: -8.34%
• 6M: -9.54%
• 1Y: -3.71%
• 3Y*: 10.44%
• 5Y*: 13.35%
• 10Y*: 25.43%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASAN vs. MSFT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ASAN Asana, Inc.	-36.69%	-32.36%	6.63%	38.05%	-81.53%	152.28%	2.60%
MSFT Microsoft Corporation	-8.34%	15.58%	12.93%	58.19%	-28.02%	52.48%	6.02%

Correlation

The correlation between ASAN and MSFT is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Oct 1, 2020	0.43

Fundamentals

Market Cap ASAN : $2.07B MSFT : $3.29T
EPS ASAN : -$0.69 MSFT : $16.79
PS Ratio ASAN : 2.55 MSFT : 10.34
PB Ratio ASAN : 15.09 MSFT : 7.93
Total Revenue (TTM) ASAN : $808.63M MSFT : $318.27B
Gross Profit (TTM) ASAN : $715.69M MSFT : $217.41B
EBITDA (TTM) ASAN : -$138.34M MSFT : $200.96B

Return for Risk

ASAN vs. MSFT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASAN

ASAN Risk / Return Rank: 10
ASAN Sharpe Ratio Rank: 7
ASAN Sortino Ratio Rank: 8
ASAN Omega Ratio Rank: 9
ASAN Calmar Ratio Rank: 14
ASAN Martin Ratio Rank: 14

MSFT

MSFT Risk / Return Rank: 33
MSFT Sharpe Ratio Rank: 34
MSFT Sortino Ratio Rank: 28
MSFT Omega Ratio Rank: 29
MSFT Calmar Ratio Rank: 36
MSFT Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASAN vs. MSFT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Asana, Inc. (ASAN) and Microsoft Corporation (MSFT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASAN	MSFT	Difference
Sharpe ratio Return per unit of total volatility	-0.85	-0.15	-0.70
Sortino ratio Return per unit of downside risk	-1.23	-0.04	-1.20
Omega ratio Gain probability vs. loss probability	0.85	1.00	-0.14
Calmar ratio Return relative to maximum drawdown	-0.72	-0.10	-0.62
Martin ratio Return relative to average drawdown	-1.18	-0.21	-0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASAN vs. MSFT - Sharpe Ratio Comparison

The current ASAN Sharpe Ratio is -0.85, which is lower than the MSFT Sharpe Ratio of -0.15. The chart below compares the historical Sharpe Ratios of ASAN and MSFT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ASAN	MSFT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	-0.15	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.32	0.50	-0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.94	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.25	0.75	-1.00

Drawdowns

ASAN vs. MSFT - Drawdown Comparison

The maximum ASAN drawdown since its inception was -96.17%, which is greater than MSFT's maximum drawdown of -69.38%. Use the drawdown chart below to compare losses from any high point for ASAN and MSFT.

Drawdown Indicators

	ASAN	MSFT	Difference
Max Drawdown Largest peak-to-trough decline	-96.17%	-69.38%	-26.79%
Max Drawdown (1Y) Largest decline over 1 year	-71.26%	-33.91%	-37.35%
Max Drawdown (3Y) Largest decline over 3 years	-80.16%	-33.91%	-46.25%
Max Drawdown (5Y) Largest decline over 5 years	-96.17%	-37.15%	-59.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.15%	—
Current Drawdown Current decline from peak	-93.92%	-18.07%	-75.85%
Average Drawdown Average peak-to-trough decline	-70.55%	-21.78%	-48.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	43.58%	15.90%	+27.68%

Volatility

ASAN vs. MSFT - Volatility Comparison

Asana, Inc. (ASAN) has a higher volatility of 28.99% compared to Microsoft Corporation (MSFT) at 9.31%. This indicates that ASAN's price experiences larger fluctuations and is considered to be riskier than MSFT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASAN	MSFT	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.99%	9.31%	+19.68%
Volatility (6M) Calculated over the trailing 6-month period	48.61%	22.14%	+26.47%
Volatility (1Y) Calculated over the trailing 1-year period	62.05%	24.92%	+37.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	79.33%	26.59%	+52.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.08%	27.03%	+50.05%

Dividends

ASAN vs. MSFT - Dividend Comparison

ASAN has not paid dividends to shareholders, while MSFT's dividend yield for the trailing twelve months is around 0.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASAN Asana, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MSFT Microsoft Corporation	0.81%	0.70%	0.73%	0.74%	1.06%	0.68%	0.94%	1.20%	1.69%	1.86%	2.37%	2.33%

Financials

ASAN vs. MSFT - Profitability Comparison

The chart below illustrates the profitability comparison between Asana, Inc. and Microsoft Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ASAN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Asana, Inc. reported a gross profit of 179.68M and revenue of 205.10M. Therefore, the gross margin over that period was 87.6%.

MSFT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Microsoft Corporation reported a gross profit of 56.06B and revenue of 82.89B. Therefore, the gross margin over that period was 67.6%.

ASAN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Asana, Inc. reported an operating income of -15.24M and revenue of 205.10M, resulting in an operating margin of -7.4%.

MSFT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Microsoft Corporation reported an operating income of 38.40B and revenue of 82.89B, resulting in an operating margin of 46.3%.

ASAN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Asana, Inc. reported a net income of -14.41M and revenue of 205.10M, resulting in a net margin of -7.0%.

MSFT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Microsoft Corporation reported a net income of 31.78B and revenue of 82.89B, resulting in a net margin of 38.3%.

Frequently Asked Questions

Can I hold both ASAN and MSFT in my portfolio?

ASAN and MSFT have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASAN or MSFT?

ASAN has higher volatility (28.99%) compared to MSFT (9.31%). In terms of maximum drawdown, ASAN dropped -96.17% vs MSFT's -69.38%.

Which has better risk-adjusted returns?

MSFT currently has the higher Sharpe Ratio (-0.15 vs -0.85), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.