Workiva Correlations

WK Stock

USD 89.68 1.15 1.30%

The current 90-days correlation between Workiva and Clearwater Analytics Holdings 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

Good diversification

The correlation between Workiva and DJI is -0.03 (i.e., 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 inflation.

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

Moving together with Workiva Stock

0.72	VMEO	Vimeo Inc Earnings Call This Week	Pair Corr
0.82	OTEX	Open Text Corp	Pair Corr
0.74	BB	BlackBerry	Pair Corr
0.73	WCT	Wellchange Holdings	Pair Corr
0.64	JAMF	Jamf Holding	Pair Corr
0.61	TIXT	TELUS International	Pair Corr
0.75	DDS	Dillards,	Pair Corr
0.69	VIVC	Vivic Corp	Pair Corr
0.64	VRT	Vertiv Holdings	Pair Corr

Moving against Workiva Stock

0.84	LMN	Lumine Group Earnings Call This Week	Pair Corr
0.83	TOI	Topicus	Pair Corr
0.79	KXS	Kinaxis	Pair Corr
0.75	NOW	NowVertical Group	Pair Corr
0.75	OBLG	Oblong Inc Tech Boost	Pair Corr
0.73	GEN	Gen Digital Sell-off Trend	Pair Corr
0.73	MNDO	MIND CTI	Pair Corr
0.62	DND	Dye Durham	Pair Corr
0.57	DSG	Descartes Systems	Pair Corr
0.76	AMPL	Amplitude	Pair Corr
0.31	SAGT	SAGTEC GLOBAL LIMITED	Pair Corr

Related Correlations Analysis

	CWAN	FROG	ZETA	VERX	COMP	BTDR	BILL	GBTG	OS	CLBT
CWAN		-0.32	-0.53	0.59	0.36	-0.66	-0.52	-0.43	0.73	-0.72	CWAN
FROG	-0.32		0.66	-0.63	0.32	0.33	0.74	0.76	-0.61	0.77	FROG
ZETA	-0.53	0.66		-0.78	0.37	0.24	0.49	0.83	-0.62	0.61	ZETA
VERX	0.59	-0.63	-0.78		-0.37	-0.3	-0.35	-0.9	0.89	-0.62	VERX
COMP	0.36	0.32	0.37	-0.37		-0.54	-0.16	0.45	-0.06	-0.18	COMP
BTDR	-0.66	0.33	0.24	-0.3	-0.54		0.62	0.3	-0.63	0.73	BTDR
BILL	-0.52	0.74	0.49	-0.35	-0.16	0.62		0.44	-0.5	0.83	BILL
GBTG	-0.43	0.76	0.83	-0.9	0.45	0.3	0.44		-0.79	0.66	GBTG
OS	0.73	-0.61	-0.62	0.89	-0.06	-0.63	-0.5	-0.79		-0.79	OS
CLBT	-0.72	0.77	0.61	-0.62	-0.18	0.73	0.83	0.66	-0.79		CLBT
	CWAN	FROG	ZETA	VERX	COMP	BTDR	BILL	GBTG	OS	CLBT

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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

OS	+ 0.89	VERX
GBTG	+ 0.83	ZETA
CLBT	+ 0.83	BILL
CLBT	+ 0.77	FROG
GBTG	+ 0.76	FROG
BILL	+ 0.74	FROG

High negative correlations

GBTG	- 0.9	VERX
CLBT	- 0.79	OS
OS	- 0.79	GBTG
VERX	- 0.78	ZETA
CLBT	- 0.72	CWAN
BTDR	- 0.66	CWAN

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
CWAN	1.57	(0.23)	0.00	(0.09)	0.00	0.00	3.48	(2.83)	11.97
FROG	2.01	0.17	0.08	0.16	2.20	(2.31)	5.02	(3.83)	16.80
ZETA	2.91	0.11	0.06	0.08	3.50	(2.80)	6.89	(5.09)	37.14
VERX	2.11	(0.54)	0.00	(0.38)	0.00	0.00	5.43	(3.56)	20.53
COMP	2.16	0.06	0.02	0.09	3.25	(2.44)	4.37	(3.16)	25.56
BTDR	4.87	0.63	0.15	0.24	4.81	(6.33)	10.28	(9.43)	38.23
BILL	2.14	0.10	0.05	0.12	2.42	(2.20)	3.56	(3.98)	23.83
GBTG	1.55	0.18	0.12	0.13	1.62	(1.77)	3.59	(2.91)	16.59
OS	2.20	(0.57)	0.00	(0.25)	0.00	0.00	3.41	(4.88)	12.39
CLBT	1.73	0.31	0.16	0.39	1.62	(2.08)	3.60	(2.23)	15.46

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