ASAN vs WDAY: Correlation
Measured on weekly returns over the past three years, Asana, Inc. (ASAN) and Workday, Inc. (WDAY) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASAN and WDAY?
On 3 years of weekly data the ASAN/WDAY correlation comes out at 0.58, moderate. The link has tightened recently: the 1-year correlation (0.80) runs above the 3-year figure (0.58). The 5-year figure is 0.56, and annualized covariance runs at 1391.4 %².
Among the 19 assets we track against ASAN, WDAY ranks #4 by 3-year correlation. Over the last 12 months WDAY came out ahead by 13.3 percentage points (-29.0% against -15.7%).
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.
ASAN vs WDAY: side by side
| ASAN (Asana, Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -29.0% | -15.7% |
| 5-year return | -86.9% | -28.7% |
| Volatility (ann.) | 59.9% | 40.0% |
| Beta vs S&P 500 | 1.49 | 1.09 |
| Max drawdown (3Y) | -80.2% | -63.4% |
| Market cap | $2.3B | $47.8B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ASAN | WDAY |
|---|---|---|
| 2022 | -81.5% | -38.7% |
| 2023 | +38.1% | +65.0% |
| 2024 | +6.6% | -6.5% |
| 2025 | -32.4% | -16.8% |
| 2026 | -25.8% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASAN and WDAY good diversifiers for each other?
Only partially. A correlation of 0.58 means ASAN 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 ASAN and WDAY?
The ASAN/WDAY correlation stands at 0.58 on a 3-year window (1 year: 0.80, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for ASAN?
Only partially. A correlation of 0.58 means ASAN 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 0.58 mean?
On the −1 to +1 scale, 0.58 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asan-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asan-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASAN correlations · WDAY correlations
