Workiva Correlations

WK Stock

USD 59.62 2.03 3.52%

The current 90-days correlation between Workiva and OneStream Class A is 0.23 (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

Excellent diversification

The correlation between Workiva and DJI is -0.62 (i.e., Excellent 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 industry.

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

Moving together with Workiva Stock

0.92	U	Unity Software	Pair Corr
0.63	9NY	BYTES TECHGRP LS	Pair Corr
0.97	BL	Blackline Sell-off Trend	Pair Corr
0.89	DT	Dynatrace Holdings LLC	Pair Corr
0.77	DV	DoubleVerify Holdings	Pair Corr
0.9	35U	PAR TECHNOLOGY DL Earnings Call This Week	Pair Corr
0.84	MQ	Marqeta	Pair Corr
0.92	PD	Pagerduty	Pair Corr
0.9	VS	Versus Systems	Pair Corr
0.62	MTLO	Martello Technologies	Pair Corr
0.81	DMRC	Digimarc	Pair Corr
0.83	RM	RM Plc	Pair Corr
0.92	2TY	PagerDuty	Pair Corr
0.94	DOCU	DocuSign	Pair Corr
0.86	DOMO	Domo Inc Buyout Trend	Pair Corr
0.85	1Q5	Dropbox	Pair Corr
0.81	VERI	Veritone	Pair Corr
0.94	VERX	Vertex Buyout Trend	Pair Corr
0.96	6NCA	NCINO INC DL	Pair Corr
0.88	DSGX	Descartes Systems	Pair Corr
0.92	LY0	Lyft Inc	Pair Corr
0.65	DTCX	Datacentrex Symbol Change	Pair Corr
0.63	0M5	Bill Holdings	Pair Corr

Moving against Workiva Stock

0.86	60Z	UNIFIEDPOST GRP SANV Earnings Call This Week	Pair Corr
0.83	RNI	OXFORD METRICS LS	Pair Corr
0.8	DSG	Dillistone Group PLC	Pair Corr
0.74	JG	Aurora Mobile	Pair Corr
0.55	TRB	Tribal Group plc	Pair Corr
0.51	ZM	Zoom Video Communications Earnings Call Tomorrow	Pair Corr
0.42	LUS1	Lang Schwarz Aktieng	Pair Corr
0.83	MKQ	Mitek Systems	Pair Corr
0.66	89P	CLAVISTER HOLDING	Pair Corr

Related Correlations Analysis

	OS	BTDR	CLSK	COMP	DGNX	VIA	CWAN	BULL	FROG	ZETA
OS		0.32	-0.27	0.61	-0.69	-0.7	0.56	-0.65	-0.77	0.1	OS
BTDR	0.32		0.57	0.74	-0.19	0.02	0.37	0.25	0.06	0.52	BTDR
CLSK	-0.27	0.57		0.21	0.31	0.44	-0.18	0.78	0.51	0.46	CLSK
COMP	0.61	0.74	0.21		-0.65	-0.41	0.68	-0.18	-0.19	0.51	COMP
DGNX	-0.69	-0.19	0.31	-0.65		0.92	-0.8	0.72	0.55	-0.12	DGNX
VIA	-0.7	0.02	0.44	-0.41	0.92		-0.63	0.83	0.72	0.15	VIA
CWAN	0.56	0.37	-0.18	0.68	-0.8	-0.63		-0.45	-0.26	0.46	CWAN
BULL	-0.65	0.25	0.78	-0.18	0.72	0.83	-0.45		0.8	0.44	BULL
FROG	-0.77	0.06	0.51	-0.19	0.55	0.72	-0.26	0.8		0.37	FROG
ZETA	0.1	0.52	0.46	0.51	-0.12	0.15	0.46	0.44	0.37		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	+ 0.92	DGNX
BULL	+ 0.83	VIA
FROG	+ 0.8	BULL
BULL	+ 0.78	CLSK
COMP	+ 0.74	BTDR
BULL	+ 0.72	DGNX

High negative correlations

CWAN	- 0.8	DGNX
FROG	- 0.77	OS
VIA	- 0.7	OS
DGNX	- 0.69	OS
DGNX	- 0.65	COMP
BULL	- 0.65	OS

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	1.69	0.20	0.07	0.30	1.96	(2.07)	3.71	(3.59)	29.32
BTDR	4.50	(0.43)	0.00	(0.10)	0.00	0.00	9.99	(9.13)	32.96
CLSK	5.09	(0.07)	0.01	0.04	6.11	(5.72)	13.79	(9.26)	37.07
COMP	2.39	(0.08)	(0.02)	0.00	3.50	(2.93)	5.22	(4.91)	21.55
DGNX	7.66	(4.04)	0.00	(3.89)	0.00	0.00	15.38	(20.73)	49.87
VIA	3.13	(1.31)	0.00	(2.97)	0.00	0.00	6.02	(7.48)	19.64
CWAN	0.98	0.20	0.13	0.46	0.91	(1.24)	3.64	(1.81)	9.67
BULL	2.61	(0.65)	0.00	(0.22)	0.00	0.00	5.41	(5.90)	19.31
FROG	3.01	(0.61)	0.00	(0.97)	0.00	0.00	5.63	(7.74)	14.75
ZETA	3.11	(0.34)	0.00	(0.05)	0.00	0.00	5.97	(6.43)	17.72

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