Workiva Correlations

WK Stock

USD 72.00 4.54 5.93%

The current 90-days correlation between Workiva and OneStream Class A is 0.24 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Workiva moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Workiva moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Workiva Correlation With Market

Very good diversification

The correlation between Workiva and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Workiva and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Workiva Stock

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

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

Moving together with Workiva Stock

0.67	DOCU	DocuSign	Pair Corr
0.63	GEN	Gen Digital Earnings Call This Week	Pair Corr
0.61	WCT	Wellchange Holdings	Pair Corr
0.81	KXS	Kinaxis	Pair Corr
0.64	TOI	Topicus	Pair Corr

Moving against Workiva Stock

0.59	LTCH	Latch Inc	Pair Corr
0.56	ONTF	ON24 Inc	Pair Corr
0.51	API	Agora Inc	Pair Corr
0.49	JG	Aurora Mobile	Pair Corr
0.44	MITK	Mitek Systems	Pair Corr
0.43	IBEX	IBEX	Pair Corr
0.35	DUOT	Duos Technologies	Pair Corr
0.68	ASML	ASML Holding NV	Pair Corr
0.67	MNMD	Mind Medicine Symbol Change	Pair Corr
0.6	NHYDY	Norsk Hydro ASA	Pair Corr
0.58	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.56	LOVFF	Cannara Biotech	Pair Corr
0.42	AXIN	Axiom Intelligence	Pair Corr
0.39	SOPA	Society Pass	Pair Corr
0.37	META	Meta Platforms Aggressive Push	Pair Corr

Related Correlations Analysis

	OS	BTDR	CLSK	COMP	DGNX	VIA	CWAN	BULL	FROG	ZETA
OS		0.05	-0.14	0.56	-0.41	-0.3	0.3	-0.44	-0.22	0.62	OS
BTDR	0.05		0.85	-0.46	0.55	0.64	-0.6	0.62	-0.77	-0.08	BTDR
CLSK	-0.14	0.85		-0.44	0.53	0.58	-0.58	0.8	-0.51	-0.15	CLSK
COMP	0.56	-0.46	-0.44		-0.93	-0.9	0.85	-0.77	0.26	0.59	COMP
DGNX	-0.41	0.55	0.53	-0.93		0.94	-0.92	0.77	-0.35	-0.6	DGNX
VIA	-0.3	0.64	0.58	-0.9	0.94		-0.93	0.79	-0.43	-0.47	VIA
CWAN	0.3	-0.6	-0.58	0.85	-0.92	-0.93		-0.77	0.38	0.5	CWAN
BULL	-0.44	0.62	0.8	-0.77	0.77	0.79	-0.77		-0.27	-0.31	BULL
FROG	-0.22	-0.77	-0.51	0.26	-0.35	-0.43	0.38	-0.27		0.03	FROG
ZETA	0.62	-0.08	-0.15	0.59	-0.6	-0.47	0.5	-0.31	0.03		ZETA
	OS	BTDR	CLSK	COMP	DGNX	VIA	CWAN	BULL	FROG	ZETA

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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

VIA	+ 0.94	DGNX
CLSK	+ 0.85	BTDR
CWAN	+ 0.85	COMP
BULL	+ 0.8	CLSK
BULL	+ 0.79	VIA
BULL	+ 0.77	DGNX

High negative correlations

CWAN	- 0.93	VIA
DGNX	- 0.93	COMP
CWAN	- 0.92	DGNX
VIA	- 0.9	COMP
BULL	- 0.77	CWAN
BULL	- 0.77	COMP

Risk-Adjusted Indicators

There is a big difference between Workiva Stock performing well and Workiva 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 Workiva'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
OS	2.65	0.34	0.11	0.27	2.53	(3.33)	5.27	(4.81)	29.57
BTDR	4.60	(0.78)	0.00	(0.56)	0.00	0.00	8.05	(9.13)	23.93
CLSK	4.69	(0.75)	0.00	(0.33)	0.00	0.00	12.27	(8.72)	33.02
COMP	2.30	0.68	0.33	1.25	1.61	(3.19)	7.28	(3.72)	14.23
DGNX	8.32	(3.26)	0.00	2.40	0.00	0.00	17.74	(21.43)	58.12
VIA	3.17	(1.14)	0.00	(3.95)	0.00	0.00	6.02	(7.74)	18.71
CWAN	1.62	0.31	0.12	0.28	1.92	(1.84)	4.31	(3.95)	14.20
BULL	2.37	(0.77)	0.00	(0.68)	0.00	0.00	4.58	(5.86)	12.33
FROG	2.80	0.20	0.06	0.39	2.70	(3.31)	6.25	(4.57)	34.70
ZETA	3.25	0.07	0.00	(0.26)	3.79	(3.43)	8.32	(5.77)	28.98

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