Workday Correlations

WDAY Stock

USD 186.86 5.86 3.04%

The current 90-days correlation between Workday and Autodesk is 0.42 (i.e., Very weak diversification). The correlation of Workday 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Workday Correlation With Market

Weak diversification

The correlation between Workday and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Workday and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Workday Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Workday. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Workday Stock please use our How to Invest in Workday guide.

Moving together with Workday Stock

0.82	BSY	Bentley Systems	Pair Corr
0.81	PTC	PTC Inc Sell-off Trend	Pair Corr
0.77	SAP	SAP SE ADR	Pair Corr
0.83	TTD	Trade Desk	Pair Corr
0.81	TYL	Tyler Technologies	Pair Corr
0.92	GWRE	Guidewire Software	Pair Corr
0.89	FNMFO	Federal National Mortgage	Pair Corr

Moving against Workday Stock

0.8	DBD	Diebold Nixdorf	Pair Corr
0.7	KB	KB Financial Group	Pair Corr
0.56	SHG	Shinhan Financial	Pair Corr
0.54	SSNC	SSC Technologies Holdings	Pair Corr
0.47	AVAL	Grupo Aval	Pair Corr
0.87	BCH	Banco De Chile	Pair Corr
0.83	ACR-PC	ACRES Commercial Realty	Pair Corr
0.82	ATI	Allegheny Technologies	Pair Corr
0.75	ACN	Accenture plc	Pair Corr
0.68	WF	Woori Financial Group	Pair Corr
0.67	WSFS	WSFS Financial	Pair Corr
0.64	F	Ford Motor	Pair Corr
0.57	SANM	Sanmina Tech Boost	Pair Corr
0.55	INTC	Intel Aggressive Push	Pair Corr
0.5	BOF	BranchOut Food Common	Pair Corr
0.49	NMIH	NMI Holdings	Pair Corr
0.44	ASXSF	Elysee Development Corp	Pair Corr
0.41	MCHP	Microchip Technology	Pair Corr

Related Correlations Analysis

	ADSK	DDOG	MSTR	FTNT	CRWV	MSI	INFY	FICO	TEAM	CDNS
ADSK		0.48	0.5	0.81	0.35	0.32	-0.36	0.26	0.76	0.43	ADSK
DDOG	0.48		0.45	0.44	0.19	0.09	-0.64	0.3	0.21	0.06	DDOG
MSTR	0.5	0.45		0.69	0.92	0.88	-0.72	-0.45	0.29	0.59	MSTR
FTNT	0.81	0.44	0.69		0.62	0.45	-0.52	0.03	0.68	0.71	FTNT
CRWV	0.35	0.19	0.92	0.62		0.9	-0.58	-0.61	0.23	0.69	CRWV
MSI	0.32	0.09	0.88	0.45	0.9		-0.49	-0.66	0.15	0.53	MSI
INFY	-0.36	-0.64	-0.72	-0.52	-0.58	-0.49		0.19	-0.12	-0.25	INFY
FICO	0.26	0.3	-0.45	0.03	-0.61	-0.66	0.19		0.14	-0.28	FICO
TEAM	0.76	0.21	0.29	0.68	0.23	0.15	-0.12	0.14		0.46	TEAM
CDNS	0.43	0.06	0.59	0.71	0.69	0.53	-0.25	-0.28	0.46		CDNS
	ADSK	DDOG	MSTR	FTNT	CRWV	MSI	INFY	FICO	TEAM	CDNS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CRWV	+ 0.92	MSTR
MSI	+ 0.9	CRWV
MSI	+ 0.88	MSTR
FTNT	+ 0.81	ADSK
TEAM	+ 0.76	ADSK
CDNS	+ 0.71	FTNT

High negative correlations

INFY	- 0.72	MSTR
FICO	- 0.66	MSI
INFY	- 0.64	DDOG
FICO	- 0.61	CRWV
INFY	- 0.58	CRWV
INFY	- 0.52	FTNT

Risk-Adjusted Indicators

There is a big difference between Workday Stock performing well and Workday 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 Workday'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADSK	1.08	(0.29)	0.00	(0.28)	0.00	0.00	1.58	(3.14)	8.22
DDOG	1.88	(0.42)	0.00	(2.33)	0.00	0.00	3.17	(3.97)	32.62
MSTR	3.40	(0.87)	0.00	(0.64)	0.00	0.00	5.78	(7.15)	15.68
FTNT	1.25	(0.21)	0.00	(0.18)	0.00	0.00	2.01	(2.63)	8.99
CRWV	4.29	(0.42)	0.00	(0.16)	0.00	0.00	8.05	(8.30)	28.02
MSI	0.92	(0.24)	0.00	(0.54)	0.00	0.00	1.56	(2.19)	7.63
INFY	1.63	0.18	0.08	0.43	1.56	(2.01)	3.57	(2.59)	13.18
FICO	1.62	(0.16)	0.00	(0.07)	0.00	0.00	3.93	(3.16)	9.18
TEAM	2.00	(0.46)	0.00	(0.51)	0.00	0.00	3.93	(5.84)	13.36
CDNS	1.24	(0.10)	0.00	(0.05)	0.00	0.00	2.67	(2.96)	9.36

Workday Corporate Management

Ali Fuller	Senior Experience	Profile
Mark Garfield	Chief Officer	Profile
Jeff Gelfuso	Chief Officer	Profile
Rani Johnson	Chief Officer	Profile
Barbara Larson	Chief Officer	Profile

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