MANH vs. DSGX

Last updated Jun 3, 2026

MANH (Manhattan Associates, Inc.) and DSGX (The Descartes Systems Group Inc.) are both stocks. Both operate in the Software - Application industry within the Technology sector. Over the past 10 years, MANH returned 8.77%/yr vs 14.06%/yr for DSGX. At a 0.29 correlation, their price movements are largely independent.

Performance

MANH vs. DSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manhattan Associates, Inc. (MANH) and The Descartes Systems Group Inc. (DSGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MANH achieves a -10.54% return, which is significantly higher than DSGX's -11.46% return. Over the past 10 years, MANH has underperformed DSGX with an annualized return of 8.77%, while DSGX has yielded a comparatively higher 14.06% annualized return.

MANH

• 1D: -3.77%
• 1M: 10.64%
• YTD: -10.54%
• 6M: -12.40%
• 1Y: -15.96%
• 3Y*: -5.80%
• 5Y*: 2.94%
• 10Y*: 8.77%

DSGX

• 1D: -2.81%
• 1M: 6.13%
• YTD: -11.46%
• 6M: -5.94%
• 1Y: -32.09%
• 3Y*: 0.27%
• 5Y*: 4.71%
• 10Y*: 14.06%

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

MANH vs. DSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MANH Manhattan Associates, Inc.	-10.54%	-35.87%	25.51%	77.36%	-21.92%	47.83%	31.89%	88.22%	-14.47%	-6.58%
DSGX The Descartes Systems Group Inc.	-11.46%	-22.83%	35.14%	20.69%	-15.76%	41.38%	36.89%	61.45%	-6.83%	32.71%

Correlation

The correlation between MANH and DSGX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 28, 1999	0.29

Over the past year, MANH and DSGX have become more correlated (0.65) than their long-term average of 0.29, meaning their price movements have been converging.

Fundamentals

Market Cap MANH : $9.31B DSGX : $6.80B
EPS MANH : $3.57 DSGX : $1.87
PE Ratio MANH : 43.42 DSGX : 41.41
PEG Ratio MANH : 2.07 DSGX : 2.35
PS Ratio MANH : 8.55 DSGX : 9.30
PB Ratio MANH : 45.37 DSGX : 4.22
Total Revenue (TTM) MANH : $1.10B DSGX : $730.62M
Gross Profit (TTM) MANH : $456.06M DSGX : $521.45M
EBITDA (TTM) MANH : $297.27M DSGX : $309.43M

Return for Risk

MANH vs. DSGX — Risk / Return Rank

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

MANH

MANH Risk / Return Rank: 24
MANH Sharpe Ratio Rank: 22
MANH Sortino Ratio Rank: 22
MANH Omega Ratio Rank: 23
MANH Calmar Ratio Rank: 27
MANH Martin Ratio Rank: 27

DSGX

DSGX Risk / Return Rank: 11
DSGX Sharpe Ratio Rank: 8
DSGX Sortino Ratio Rank: 9
DSGX Omega Ratio Rank: 10
DSGX Calmar Ratio Rank: 13
DSGX Martin Ratio Rank: 13

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.

MANH vs. DSGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manhattan Associates, Inc. (MANH) and The Descartes Systems Group Inc. (DSGX). 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.

	MANH	DSGX	Difference
Sharpe ratio Return per unit of total volatility	-0.42	-0.84	+0.42
Sortino ratio Return per unit of downside risk	-0.35	-1.14	+0.79
Omega ratio Gain probability vs. loss probability	0.96	0.86	+0.10
Calmar ratio Return relative to maximum drawdown	-0.38	-0.72	+0.34
Martin ratio Return relative to average drawdown	-0.68	-1.20	+0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MANH vs. DSGX - Sharpe Ratio Comparison

The current MANH Sharpe Ratio is -0.42, which is higher than the DSGX Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of MANH and DSGX, 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

	MANH	DSGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.42	-0.84	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.16	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.48	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.15	+0.07

Drawdowns

MANH vs. DSGX - Drawdown Comparison

The maximum MANH drawdown since its inception was -87.04%, smaller than the maximum DSGX drawdown of -98.95%. Use the drawdown chart below to compare losses from any high point for MANH and DSGX.

Drawdown Indicators

	MANH	DSGX	Difference
Max Drawdown Largest peak-to-trough decline	-87.04%	-98.95%	+11.91%
Max Drawdown (1Y) Largest decline over 1 year	-46.97%	-45.66%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-60.98%	-48.72%	-12.26%
Max Drawdown (5Y) Largest decline over 5 years	-60.98%	-48.72%	-12.26%
Max Drawdown (10Y) Largest decline over 10 years	-60.98%	-48.72%	-12.26%
Current Drawdown Current decline from peak	-49.95%	-36.64%	-13.31%
Average Drawdown Average peak-to-trough decline	-39.44%	-69.26%	+29.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.11%	27.63%	-1.52%

Volatility

MANH vs. DSGX - Volatility Comparison

Manhattan Associates, Inc. (MANH) has a higher volatility of 15.51% compared to The Descartes Systems Group Inc. (DSGX) at 13.52%. This indicates that MANH's price experiences larger fluctuations and is considered to be riskier than DSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MANH	DSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.51%	13.52%	+1.99%
Volatility (6M) Calculated over the trailing 6-month period	32.50%	31.00%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	38.48%	38.49%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.15%	30.47%	+7.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.44%	29.47%	+9.97%

Dividends

MANH vs. DSGX - Dividend Comparison

Neither MANH nor DSGX has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

MANH vs. DSGX - Profitability Comparison

The chart below illustrates the profitability comparison between Manhattan Associates, Inc. and The Descartes Systems Group Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MANH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Manhattan Associates, Inc. reported a gross profit of 0.00 and revenue of 282.22M. Therefore, the gross margin over that period was 0.0%.

DSGX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Descartes Systems Group Inc. reported a gross profit of 130.96M and revenue of 196.26M. Therefore, the gross margin over that period was 66.7%.

MANH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Manhattan Associates, Inc. reported an operating income of 64.94M and revenue of 282.22M, resulting in an operating margin of 23.0%.

DSGX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Descartes Systems Group Inc. reported an operating income of 66.23M and revenue of 196.26M, resulting in an operating margin of 33.7%.

MANH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Manhattan Associates, Inc. reported a net income of 49.30M and revenue of 282.22M, resulting in a net margin of 17.5%.

DSGX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Descartes Systems Group Inc. reported a net income of 46.43M and revenue of 196.26M, resulting in a net margin of 23.7%.

Frequently Asked Questions

Can I hold both MANH and DSGX in my portfolio?

MANH and DSGX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MANH or DSGX?

MANH has higher volatility (15.51%) compared to DSGX (13.52%). In terms of maximum drawdown, MANH dropped -87.04% vs DSGX's -98.95%.

Which has better risk-adjusted returns?

MANH currently has the higher Sharpe Ratio (-0.42 vs -0.84), 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.