DOCU vs. DOCN

Last updated Jun 3, 2026

DOCU (DocuSign, Inc.) and DOCN (DigitalOcean Holdings, Inc.) are both stocks. Both are in the Technology sector — DOCU in Software - Application, DOCN in Software - Infrastructure. Over the past 5 years, DOCU returned -22.32%/yr vs 34.03%/yr for DOCN. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

DOCU vs. DOCN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DocuSign, Inc. (DOCU) and DigitalOcean Holdings, Inc. (DOCN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOCU achieves a -19.44% return, which is significantly lower than DOCN's 259.66% return.

DOCU

• 1D: -3.37%
• 1M: 14.89%
• YTD: -19.44%
• 6M: -19.98%
• 1Y: -38.23%
• 3Y*: -1.39%
• 5Y*: -22.32%
• 10Y*: —

DOCN

• 1D: -0.22%
• 1M: 68.32%
• YTD: 259.66%
• 6M: 287.88%
• 1Y: 509.83%
• 3Y*: 61.04%
• 5Y*: 34.03%
• 10Y*: —

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

DOCU vs. DOCN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DOCU DocuSign, Inc.	-19.44%	-23.95%	51.29%	7.27%	-63.61%	-23.25%
DOCN DigitalOcean Holdings, Inc.	259.66%	41.24%	-7.14%	44.05%	-68.29%	89.01%

Correlation

The correlation between DOCU and DOCN is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.54

Over the past year, the correlation between DOCU and DOCN has dropped to 0.32 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Fundamentals

Market Cap DOCU : $11.28B DOCN : $19.37B
EPS DOCU : $1.48 DOCN : $2.42
PE Ratio DOCU : 37.27 DOCN : 71.62
PEG Ratio DOCU : 0.06 DOCN : 0.27
PS Ratio DOCU : 3.58 DOCN : 19.20
PB Ratio DOCU : 5.88 DOCN : 21.83
Total Revenue (TTM) DOCU : $3.22B DOCN : $948.63M
Gross Profit (TTM) DOCU : $2.56B DOCN : $554.86M
EBITDA (TTM) DOCU : $562.16M DOCN : $373.00M

Return for Risk

DOCU vs. DOCN — Risk / Return Rank

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

DOCU

DOCU Risk / Return Rank: 13
DOCU Sharpe Ratio Rank: 8
DOCU Sortino Ratio Rank: 11
DOCU Omega Ratio Rank: 11
DOCU Calmar Ratio Rank: 15
DOCU Martin Ratio Rank: 17

DOCN

DOCN Risk / Return Rank: 98
DOCN Sharpe Ratio Rank: 99
DOCN Sortino Ratio Rank: 98
DOCN Omega Ratio Rank: 96
DOCN Calmar Ratio Rank: 99
DOCN Martin Ratio Rank: 99

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.

DOCU vs. DOCN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DocuSign, Inc. (DOCU) and DigitalOcean Holdings, Inc. (DOCN). 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.

	DOCU	DOCN	Difference
Sharpe ratio Return per unit of total volatility	-0.80	6.29	-7.09
Sortino ratio Return per unit of downside risk	-0.95	5.41	-6.36
Omega ratio Gain probability vs. loss probability	0.87	1.66	-0.78
Calmar ratio Return relative to maximum drawdown	-0.68	21.22	-21.90
Martin ratio Return relative to average drawdown	-1.08	62.79	-63.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DOCU vs. DOCN - Sharpe Ratio Comparison

The current DOCU Sharpe Ratio is -0.80, which is lower than the DOCN Sharpe Ratio of 6.29. The chart below compares the historical Sharpe Ratios of DOCU and DOCN, 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

	DOCU	DOCN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.80	6.29	-7.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.38	0.48	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.44	-0.37

Drawdowns

DOCU vs. DOCN - Drawdown Comparison

The maximum DOCU drawdown since its inception was -87.57%, roughly equal to the maximum DOCN drawdown of -84.78%. Use the drawdown chart below to compare losses from any high point for DOCU and DOCN.

Drawdown Indicators

	DOCU	DOCN	Difference
Max Drawdown Largest peak-to-trough decline	-87.57%	-84.78%	-2.79%
Max Drawdown (1Y) Largest decline over 1 year	-55.51%	-24.11%	-31.40%
Max Drawdown (3Y) Largest decline over 3 years	-60.98%	-60.28%	-0.70%
Max Drawdown (5Y) Largest decline over 5 years	-87.57%	-84.78%	-2.79%
Current Drawdown Current decline from peak	-82.23%	-0.22%	-82.01%
Average Drawdown Average peak-to-trough decline	-49.79%	-59.27%	+9.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.92%	8.15%	+26.77%

Volatility

DOCU vs. DOCN - Volatility Comparison

The current volatility for DocuSign, Inc. (DOCU) is 14.63%, while DigitalOcean Holdings, Inc. (DOCN) has a volatility of 39.28%. This indicates that DOCU experiences smaller price fluctuations and is considered to be less risky than DOCN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOCU	DOCN	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.63%	39.28%	-24.65%
Volatility (6M) Calculated over the trailing 6-month period	34.78%	60.66%	-25.88%
Volatility (1Y) Calculated over the trailing 1-year period	47.89%	81.78%	-33.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.44%	71.30%	-12.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.45%	70.73%	-14.28%

Dividends

DOCU vs. DOCN - Dividend Comparison

Neither DOCU nor DOCN has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

DOCU vs. DOCN - Profitability Comparison

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

DOCU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, DocuSign, Inc. reported a gross profit of 667.08M and revenue of 836.86M. Therefore, the gross margin over that period was 79.7%.

DOCN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, DigitalOcean Holdings, Inc. reported a gross profit of 144.71M and revenue of 257.91M. Therefore, the gross margin over that period was 56.1%.

DOCU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, DocuSign, Inc. reported an operating income of 87.74M and revenue of 836.86M, resulting in an operating margin of 10.5%.

DOCN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, DigitalOcean Holdings, Inc. reported an operating income of 36.57M and revenue of 257.91M, resulting in an operating margin of 14.2%.

DOCU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, DocuSign, Inc. reported a net income of 90.30M and revenue of 836.86M, resulting in a net margin of 10.8%.

DOCN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, DigitalOcean Holdings, Inc. reported a net income of 33.22M and revenue of 257.91M, resulting in a net margin of 12.9%.

Frequently Asked Questions

Can I hold both DOCU and DOCN in my portfolio?

DOCU and DOCN have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOCU or DOCN?

DOCN has higher volatility (39.28%) compared to DOCU (14.63%). In terms of maximum drawdown, DOCU dropped -87.57% vs DOCN's -84.78%.

Which has better risk-adjusted returns?

DOCN currently has the higher Sharpe Ratio (6.29 vs -0.80), 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.