PATH vs. DOCU
PATH (UiPath Inc.) and DOCU (DocuSign, Inc.) are both stocks. Both are in the Technology sector — PATH in Software - Infrastructure, DOCU in Software - Application. Over the past 5 years, PATH returned -27.24%/yr vs -28.72%/yr for DOCU. Their 0.64 correlation means they have sometimes moved together and sometimes differently.
Performance
PATH vs. DOCU - Performance Comparison
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Returns By Period
In the year-to-date period, PATH achieves a -22.15% return, which is significantly lower than DOCU's -19.84% return.
PATH
- 1D
- 3.15%
- 1M
- 8.97%
- 6M
- 1.35%
- YTD
- -22.15%
- 1Y
- 14.85%
- 3Y*
- -10.49%
- 5Y*
- -27.24%
- 10Y*
- —
- ALL TIME*
- -26.66%
DOCU
- 1D
- 0.99%
- 1M
- 19.79%
- 6M
- 4.36%
- YTD
- -19.84%
- 1Y
- -25.74%
- 3Y*
- 1.14%
- 5Y*
- -28.72%
- 10Y*
- —
- ALL TIME*
- 4.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
DOCU DocuSign, Inc. | $171.86M | $162.67M | $184.59M |
PATH UiPath Inc. | $985.01M | $993.57M | $668.61M |
PATH vs. DOCU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PATH UiPath Inc. | -22.15% | 28.95% | -48.83% | 95.44% | -70.53% | -34.15% |
DOCU DocuSign, Inc. | -19.84% | -23.95% | 51.29% | 7.27% | -63.61% | -30.59% |
Correlation
The correlation between PATH and DOCU is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.58 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 21, 2021 | 0.64 |
The correlation between PATH and DOCU has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
Fundamentals
PATH:
$6.79B
DOCU:
$10.47B
PATH:
$0.61
DOCU:
$1.55
PATH:
21.02
DOCU:
35.47
PATH:
4.11
DOCU:
3.40
PATH:
3.54
DOCU:
5.92
PATH:
$1.67B
DOCU:
$3.29B
PATH:
$1.39B
DOCU:
$2.61B
PATH:
$115.98M
DOCU:
$568.83M
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Return for Risk
PATH vs. DOCU — Risk / Return Rank
PATH
DOCU
PATH vs. DOCU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UiPath Inc. (PATH) and DocuSign, Inc. (DOCU). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PATH | DOCU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.71 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.93 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.17 | -0.54 | +0.71 |
| Martin ratioReturn relative to average drawdown | 0.27 | -0.82 | +1.09 |
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Drawdowns
PATH vs. DOCU - Drawdown Comparison
The maximum PATH drawdown since its inception was -88.98%, roughly equal to the maximum DOCU drawdown of -87.57%. Use the drawdown chart below to compare losses from any high point for PATH and DOCU.
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Drawdown Indicators
| PATH | DOCU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.98% | -87.57% | -1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -51.37% | -50.89% | -0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -65.10% | -60.98% | -4.12% |
Max Drawdown (5Y)Largest decline over 5 years | -85.56% | -87.57% | +2.01% |
Current DrawdownCurrent decline from peak | -85.01% | -82.32% | -2.69% |
Average DrawdownAverage peak-to-trough decline | -74.06% | -50.45% | -23.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 31.83% | 33.76% | -1.93% |
Volatility
PATH vs. DOCU - Volatility Comparison
UiPath Inc. (PATH) has a higher volatility of 18.18% compared to DocuSign, Inc. (DOCU) at 16.24%. This indicates that PATH's price experiences larger fluctuations and is considered to be riskier than DOCU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PATH | DOCU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.18% | 16.24% | +1.94% |
Volatility (6M)Calculated over the trailing 6-month period | 42.10% | 36.74% | +5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 66.14% | 47.66% | +18.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.82% | 58.30% | +5.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.02% | 56.42% | +7.60% |
Dividends
PATH vs. DOCU - Dividend Comparison
Neither PATH nor DOCU has paid dividends to shareholders.
Financials
PATH vs. DOCU - Financials Comparison
This section allows you to compare key financial metrics between UiPath Inc. and DocuSign, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PATH vs. DOCU - Profitability Comparison
PATH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, UiPath Inc. reported a gross profit of 341.45M and revenue of 418.38M. Therefore, the gross margin over that period was 81.6%.
DOCU - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, DocuSign, Inc. reported a gross profit of 658.97M and revenue of 830.24M. Therefore, the gross margin over that period was 79.4%.
PATH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, UiPath Inc. reported an operating income of 27.99M and revenue of 418.38M, resulting in an operating margin of 6.7%.
DOCU - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, DocuSign, Inc. reported an operating income of 111.31M and revenue of 830.24M, resulting in an operating margin of 13.4%.
PATH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, UiPath Inc. reported a net income of 22.53M and revenue of 418.38M, resulting in a net margin of 5.4%.
DOCU - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, DocuSign, Inc. reported a net income of 78.20M and revenue of 830.24M, resulting in a net margin of 9.4%.
Frequently Asked Questions
PATH and DOCU 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.
PATH has higher volatility (18.18%) compared to DOCU (16.24%). In terms of maximum drawdown, PATH dropped -88.98% vs DOCU's -87.57%.
PATH currently has the higher Sharpe Ratio (0.13 vs -0.58), 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.
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