FRSH vs WDAY: Correlation
Measured on weekly returns over the past three years, Freshworks Inc. (FRSH) and Workday, Inc. (WDAY) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRSH and WDAY?
Across a 3-year window, the weekly returns of FRSH and WDAY correlate at 0.57, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.75 versus 0.57 over 3 years. Stretching to 5 years gives 0.56, with an annualized covariance of 1122.2 %².
Within FRSH's tracked universe of 28 assets, WDAY comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRSH ahead by 16.3 points (+0.6% versus -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.
FRSH vs WDAY: side by side
| FRSH (Freshworks Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | +0.6% | -15.7% |
| 5-year return | -71.2% | -28.7% |
| Volatility (ann.) | 48.9% | 40.0% |
| Beta vs S&P 500 | 1.46 | 1.09 |
| Max drawdown (3Y) | -71.9% | -63.4% |
| Market cap | $3.6B | $47.8B |
| P/E (trailing) | 20.4 | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | FRSH | WDAY |
|---|---|---|
| 2022 | -44.0% | -38.7% |
| 2023 | +59.7% | +65.0% |
| 2024 | -31.2% | -6.5% |
| 2025 | -24.2% | -16.8% |
| 2026 | +11.8% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and WDAY good diversifiers for each other?
Only partially. A correlation of 0.57 means FRSH 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 FRSH and WDAY?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.75 over the last year and 0.56 over 5 years.
Is WDAY a good diversifier for FRSH?
Only partially. A correlation of 0.57 means FRSH 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 0.57 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/frsh-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frsh-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRSH correlations · WDAY correlations
