Workday Correlations

WDAY Stock

USD 267.75 0.32 0.12%

The current 90-days correlation between Workday and Intuit Inc is 0.04 (i.e., Significant 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 0.39 (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.

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

0.63	DJCO	Daily Journal Corp	Pair Corr
0.85	DV	DoubleVerify Holdings	Pair Corr
0.67	EB	Eventbrite Class A	Pair Corr
0.68	ML	MoneyLion	Pair Corr
0.63	PD	Pagerduty Earnings Call This Week	Pair Corr
0.67	VMEO	Vimeo Inc	Pair Corr

Moving against Workday Stock

0.43	VTEX	VTEX	Pair Corr
0.42	U	Unity Software Trending	Pair Corr
0.4	QH	Quhuo	Pair Corr
0.37	DT	Dynatrace Holdings LLC	Pair Corr
0.45	XELAP	Exela Technologies Earnings Call This Week	Pair Corr
0.42	BMR	Beamr Imaging	Pair Corr
0.33	WRNT	Warrantee American	Pair Corr

Related Correlations Analysis

	INTU	ZM	NOW	SNOW	ADSK	AI	SHOP	CRM	TEAM
INTU		0.65	0.58	0.43	0.48	0.35	0.64	0.51	0.6	INTU
ZM	0.65		0.84	0.68	0.87	0.74	0.81	0.89	0.94	ZM
NOW	0.58	0.84		0.69	0.95	0.79	0.86	0.93	0.91	NOW
SNOW	0.43	0.68	0.69		0.71	0.9	0.75	0.71	0.73	SNOW
ADSK	0.48	0.87	0.95	0.71		0.83	0.84	0.96	0.93	ADSK
AI	0.35	0.74	0.79	0.9	0.83		0.77	0.82	0.81	AI
SHOP	0.64	0.81	0.86	0.75	0.84	0.77		0.9	0.85	SHOP
CRM	0.51	0.89	0.93	0.71	0.96	0.82	0.9		0.92	CRM
TEAM	0.6	0.94	0.91	0.73	0.93	0.81	0.85	0.92		TEAM
	INTU	ZM	NOW	SNOW	ADSK	AI	SHOP	CRM	TEAM

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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
INTU	1.36	(0.15)	0.00	(0.05)	0.00	0.00	3.34	(2.80)	9.88
ZM	1.37	0.24	0.14	0.36	1.34	(1.50)	2.97	(2.72)	7.89
NOW	1.34	0.26	0.19	0.36	1.17	(1.64)	3.04	(2.24)	8.12
SNOW	2.09	0.40	0.24	0.32	1.62	(2.32)	4.20	(3.40)	8.92
ADSK	1.01	0.23	0.20	0.31	0.86	(1.13)	2.46	(1.74)	6.06
AI	2.52	0.51	0.21	0.39	2.23	(2.79)	6.94	(5.04)	26.01
SHOP	1.97	0.45	0.23	0.51	1.64	(2.35)	4.91	(2.68)	26.26
CRM	1.28	0.29	0.25	0.37	0.90	(1.52)	3.18	(1.91)	9.09
TEAM	2.01	0.64	0.42	0.55	1.16	(2.75)	3.90	(2.40)	22.97

Workday Corporate Management

Mark Garfield	Chief Officer	Profile
Jeff Gelfuso	Chief Officer	Profile
Robynne Sisco	CoPres	Profile
Josh DeFigueiredo	Chief Officer	Profile
Jim Stratton	Chief Officer	Profile

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