Workiva Correlations

WK Stock

USD 87.50 0.72 0.82%

The current 90-days correlation between Workiva and OneStream, Class A is 0.22 (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

Modest diversification

The correlation between Workiva and DJI is 0.21 (i.e., Modest 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 board of governors.

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

Moving against Workiva Stock

0.5	DV	DoubleVerify Holdings	Pair Corr
0.42	VS	Versus Systems	Pair Corr
0.41	DT	Dynatrace Holdings LLC	Pair Corr
0.38	JG	Aurora Mobile	Pair Corr
0.37	PD	Pagerduty	Pair Corr
0.33	ZD	Ziff Davis	Pair Corr
0.5	DOCU	DocuSign	Pair Corr
0.47	300895	Beijing Topnew Info	Pair Corr
0.42	DMRC	Digimarc	Pair Corr
0.39	DOMO	Domo Inc	Pair Corr
0.39	VEEA	Veea Inc	Pair Corr
0.38	002410	Glodon Software	Pair Corr
0.38	VERI	Veritone	Pair Corr
0.38	DSGX	Descartes Systems	Pair Corr
0.37	VERX	Vertex Potential Growth	Pair Corr
0.45	603383	Fujian Apex Software	Pair Corr
0.45	NOW	NowVertical Group	Pair Corr
0.43	ARC	Arcontech Group Plc	Pair Corr
0.4	VRAR	Glimpse Group	Pair Corr
0.39	PR1	Pri0r1ty Intelligence	Pair Corr
0.38	VTEX	VTEX	Pair Corr

Related Correlations Analysis

	OS	BTDR	CLSK	COMP	DGNX	VIA	CWAN	BULL	FROG	ZETA
OS		-0.3	-0.45	0.27	-0.05	0.05	-0.02	-0.26	0.31	0.11	OS
BTDR	-0.3		0.89	-0.86	0.68	0.85	-0.75	0.56	-0.84	0.23	BTDR
CLSK	-0.45	0.89		-0.74	0.67	0.64	-0.59	0.49	-0.7	0.23	CLSK
COMP	0.27	-0.86	-0.74		-0.8	-0.88	0.85	-0.72	0.94	-0.29	COMP
DGNX	-0.05	0.68	0.67	-0.8		0.72	-0.76	0.48	-0.76	0.27	DGNX
VIA	0.05	0.85	0.64	-0.88	0.72		-0.89	0.6	-0.84	0.34	VIA
CWAN	-0.02	-0.75	-0.59	0.85	-0.76	-0.89		-0.64	0.81	-0.39	CWAN
BULL	-0.26	0.56	0.49	-0.72	0.48	0.6	-0.64		-0.7	0.67	BULL
FROG	0.31	-0.84	-0.7	0.94	-0.76	-0.84	0.81	-0.7		-0.22	FROG
ZETA	0.11	0.23	0.23	-0.29	0.27	0.34	-0.39	0.67	-0.22		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

FROG	+ 0.94	COMP
CLSK	+ 0.89	BTDR
VIA	+ 0.85	BTDR
CWAN	+ 0.85	COMP
FROG	+ 0.81	CWAN
VIA	+ 0.72	DGNX

High negative correlations

CWAN	- 0.89	VIA
VIA	- 0.88	COMP
COMP	- 0.86	BTDR
FROG	- 0.84	VIA
FROG	- 0.84	BTDR
DGNX	- 0.8	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	2.74	(0.12)	0.00	(0.02)	0.00	0.00	5.27	(5.12)	29.57
BTDR	5.34	(0.49)	0.00	(0.09)	0.00	0.00	10.28	(13.31)	49.03
CLSK	5.38	(0.33)	0.00	(0.03)	0.00	0.00	12.27	(10.13)	33.02
COMP	2.14	0.40	0.19	0.45	1.74	(2.72)	6.32	(3.22)	12.33
DGNX	8.93	(0.54)	0.00	(0.44)	0.00	0.00	20.81	(18.40)	50.83
VIA	2.81	(0.77)	0.00	(0.43)	0.00	0.00	4.66	(6.37)	19.24
CWAN	1.84	0.34	0.14	0.26	2.30	(2.01)	5.40	(3.95)	14.20
BULL	2.82	(0.87)	0.00	(0.34)	0.00	0.00	4.58	(6.30)	13.89
FROG	2.36	0.40	0.18	0.37	2.02	(2.81)	4.77	(3.85)	31.06
ZETA	2.91	(0.33)	0.00	(0.03)	0.00	0.00	4.85	(5.77)	28.98

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