ADP vs WDAY: Correlation
Measured on weekly returns over the past three years, Automatic Data Processing (ADP) and Workday, Inc. (WDAY) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADP and WDAY?
Across a 3-year window, the weekly returns of ADP and WDAY correlate at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.55). Stretching to 5 years gives 0.52, with an annualized covariance of 475.5 %².
Among the 43 assets we track against ADP, WDAY ranks #15 by 3-year correlation. The trailing year gives ADP the advantage: -3.5% versus -15.7%, a 12.2-point spread. The rolling one-year correlation moved between 0.29 and 0.70 over the past three years, a moderate range. Note the risk asymmetry: WDAY runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ADP vs WDAY: side by side
| ADP (Automatic Data Processing) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | -15.7% |
| 5-year return | +52.0% | -28.7% |
| Volatility (ann.) | 21.7% | 40.0% |
| Beta vs S&P 500 | 0.53 | 1.09 |
| Max drawdown (3Y) | -40.8% | -63.4% |
| Market cap | $113.1B | $47.8B |
| P/E (trailing) | 26.0 | 59.6 |
| Dividend yield | 2.36% | 0.00% |
| Sector / category | Industrials | Information Technology |
Year-by-year returns
| Year | ADP | WDAY |
|---|---|---|
| 2022 | -1.3% | -38.7% |
| 2023 | -0.2% | +65.0% |
| 2024 | +28.4% | -6.5% |
| 2025 | -10.2% | -16.8% |
| 2026 | +12.4% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADP and WDAY good diversifiers for each other?
Only partially. A correlation of 0.55 means ADP and WDAY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ADP and WDAY?
As of 2026-08-27, the correlation of weekly returns between ADP and WDAY is 0.55 over 3 years, 0.69 over 1 year and 0.52 over 5 years.
Is WDAY a good diversifier for ADP?
Only partially. A correlation of 0.55 means ADP and WDAY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adp-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adp-vs-wday/)
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Related comparisons
Hubs: ADP correlations · WDAY correlations
