HUBS vs WDAY: Correlation
How closely do HubSpot, Inc. (HUBS) and Workday, Inc. (WDAY) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUBS and WDAY?
Over the past 3 years, HUBS and WDAY moved with a correlation of 0.58, which is moderate. Recent behaviour matches the longer record: 0.65 over 1 year against 0.58 over 3. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 1169.0 %².
Within HUBS's tracked universe of 30 assets, WDAY comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WDAY ahead by 29.8 points (-45.5% 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.
HUBS vs WDAY: side by side
| HUBS (HubSpot, Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -45.5% | -15.7% |
| 5-year return | -63.5% | -28.7% |
| Volatility (ann.) | 50.4% | 40.0% |
| Beta vs S&P 500 | 1.18 | 1.09 |
| Max drawdown (3Y) | -79.2% | -63.4% |
| Market cap | $13.1B | $47.8B |
| P/E (trailing) | 90.7 | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | HUBS | WDAY |
|---|---|---|
| 2022 | -56.1% | -38.7% |
| 2023 | +100.8% | +65.0% |
| 2024 | +20.0% | -6.5% |
| 2025 | -42.4% | -16.8% |
| 2026 | -36.2% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUBS and WDAY good diversifiers for each other?
Only partially. A correlation of 0.58 means HUBS 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 HUBS and WDAY?
The HUBS/WDAY correlation stands at 0.58 on a 3-year window (1 year: 0.65, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for HUBS?
Only partially. A correlation of 0.58 means HUBS 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/hubs-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hubs-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HUBS correlations · WDAY correlations
