GTLB vs WDAY: Correlation
How closely do GitLab Inc. (GTLB) and Workday, Inc. (WDAY) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTLB and WDAY?
Across a 3-year window, the weekly returns of GTLB and WDAY correlate at 0.61, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.61 over 3. Stretching to 5 years gives 0.50, with an annualized covariance of 1271.3 %².
WDAY is one of the assets that tracks GTLB most closely: it ranks #3 out of the 19 assets we track against GTLB. The trailing year gives GTLB the advantage: -5.2% versus -15.7%, a 10.5-point spread.
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.
GTLB vs WDAY: side by side
| GTLB (GitLab Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -5.2% | -15.7% |
| 5-year return | -56.9% | -28.7% |
| Volatility (ann.) | 52.0% | 40.0% |
| Beta vs S&P 500 | 1.49 | 1.09 |
| Max drawdown (3Y) | -75.0% | -63.4% |
| Market cap | $7.6B | $47.8B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | GTLB | WDAY |
|---|---|---|
| 2022 | -47.8% | -38.7% |
| 2023 | +38.6% | +65.0% |
| 2024 | -10.5% | -6.5% |
| 2025 | -33.4% | -16.8% |
| 2026 | +19.4% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTLB and WDAY good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GTLB and WDAY?
The GTLB/WDAY correlation stands at 0.61 on a 3-year window (1 year: 0.70, 5 years: 0.50), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for GTLB?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 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/gtlb-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gtlb-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GTLB correlations · WDAY correlations
