AEP vs WDAY: Correlation
Measured on weekly returns over the past three years, American Electric Power (AEP) and Workday, Inc. (WDAY) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and WDAY?
Over the past 3 years, AEP and WDAY moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.22). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -165.2 %².
By 3-year correlation, WDAY places #24 of the 36 assets tracked against AEP. Correlation aside, the last 12 months split them widely, with AEP ahead by 27.8 points (+12.1% versus -15.7%). This link changes with the market regime, having swung between -0.51 and 0.14 on a rolling one-year basis. Risk is not evenly split, since WDAY carries 2.1 times the volatility of the other side.
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.
AEP vs WDAY: side by side
| AEP (American Electric Power) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | +12.1% | -15.7% |
| 5-year return | +63.9% | -28.7% |
| Volatility (ann.) | 18.9% | 40.0% |
| Beta vs S&P 500 | -0.01 | 1.09 |
| Max drawdown (3Y) | -13.1% | -63.4% |
| Market cap | $66.8B | $47.8B |
| P/E (trailing) | 21.4 | 59.6 |
| Dividend yield | 3.06% | 0.00% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | AEP | WDAY |
|---|---|---|
| 2022 | +10.4% | -38.7% |
| 2023 | -11.0% | +65.0% |
| 2024 | +18.2% | -6.5% |
| 2025 | +29.4% | -16.8% |
| 2026 | +8.9% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and WDAY good diversifiers for each other?
Yes. With a correlation of -0.22, AEP and WDAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AEP and WDAY?
The AEP/WDAY correlation stands at -0.22 on a 3-year window (1 year: -0.41, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for AEP?
Yes. With a correlation of -0.22, AEP and WDAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aep-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aep-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEP correlations · WDAY correlations
