Workiva Correlations

WK Stock

USD 65.40 1.20 1.80%

The current 90-days correlation between Workiva and Alkami Technology is 0.61 (i.e., Poor 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

Poor diversification

The correlation between Workiva and DJI is 0.68 (i.e., Poor 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

0.88	PD	Pagerduty	Pair Corr
0.67	QH	Quhuo	Pair Corr
0.65	DMRC	Digimarc	Pair Corr
0.81	VMEO	Vimeo Inc	Pair Corr
0.88	EGHT	8x8 Common Stock	Pair Corr
0.71	ESTC	Elastic NV	Pair Corr
0.76	EXFY	Expensify	Pair Corr
0.68	FMTO	Femto Technologies Symbol Change	Pair Corr
0.75	API	Agora Inc	Pair Corr

Moving against Workiva Stock

0.46	DUOL	Duolingo	Pair Corr
0.45	AZ	A2Z Smart Technologies Tech Boost	Pair Corr
0.39	VTEX	VTEX	Pair Corr
0.38	VERX	Vertex	Pair Corr
0.31	EGAN	eGain	Pair Corr
0.42	BSY	Bentley Systems	Pair Corr
0.34	DHX	DHI Group	Pair Corr
0.33	LIF	Life360, Common Stock	Pair Corr

Related Correlations Analysis

	ALKT	AGYS	BL	AMSWA	MODN	PYCR	ONTF	BSY	APPF	ALRM
ALKT		0.66	0.89	0.0	0.0	0.69	0.63	0.78	-0.11	0.83	ALKT
AGYS	0.66		0.89	0.0	0.0	0.9	0.68	0.86	0.03	0.65	AGYS
BL	0.89	0.89		0.0	0.0	0.83	0.81	0.86	0.02	0.88	BL
AMSWA	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AMSWA
MODN	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	MODN
PYCR	0.69	0.9	0.83	0.0	0.0		0.47	0.91	-0.05	0.54	PYCR
ONTF	0.63	0.68	0.81	0.0	0.0	0.47		0.47	0.15	0.88	ONTF
BSY	0.78	0.86	0.86	0.0	0.0	0.91	0.47		-0.02	0.61	BSY
APPF	-0.11	0.03	0.02	0.0	0.0	-0.05	0.15	-0.02		0.05	APPF
ALRM	0.83	0.65	0.88	0.0	0.0	0.54	0.88	0.61	0.05		ALRM
	ALKT	AGYS	BL	AMSWA	MODN	PYCR	ONTF	BSY	APPF	ALRM

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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

BSY	+ 0.91	PYCR
PYCR	+ 0.9	AGYS
BL	+ 0.89	ALKT
BL	+ 0.89	AGYS
ALRM	+ 0.88	BL
ALRM	+ 0.88	ONTF

High negative correlations

APPF	- 0.11	ALKT
APPF	- 0.05	PYCR
APPF	- 0.02	BSY
ALRM	- 0.0	MODN
APPF	- 0.0	MODN
BSY	- 0.0	MODN

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
ALKT	2.07	0.14	0.05	0.13	2.48	(2.24)	4.58	(4.41)	16.75
AGYS	2.16	0.57	0.28	0.55	1.57	(2.59)	4.66	(3.32)	24.20
BL	1.60	0.14	0.07	0.15	1.87	(1.87)	3.63	(2.88)	12.20
AMSWA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MODN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PYCR	0.10	0.01	(0.11)	1.56	0.00	(0.13)	0.18	(0.18)	1.22
ONTF	1.79	(0.06)	0.00	(0.05)	0.00	0.00	4.24	(4.10)	11.18
BSY	1.31	0.28	0.16	0.36	1.41	(1.42)	2.63	(2.22)	13.09
APPF	2.06	0.09	0.02	0.11	3.70	(2.13)	4.81	(3.41)	27.92
ALRM	1.52	(0.07)	0.00	(0.05)	0.00	0.00	2.62	(3.09)	10.85

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