IBM vs WDAY: Correlation
Measured on weekly returns over the past three years, IBM (IBM) and Workday, Inc. (WDAY) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBM and WDAY?
On 3 years of weekly data the IBM/WDAY correlation comes out at 0.40, moderate. The past 12 months show a tighter link (0.51) than the 3-year average (0.40). The 5-year figure is 0.33, and annualized covariance runs at 554.8 %².
By 3-year correlation, WDAY places #15 of the 28 assets tracked against IBM. Correlation aside, the last 12 months split them widely, with IBM ahead by 15.8 points (+0.1% versus -15.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.09 to 0.67.
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.
IBM vs WDAY: side by side
| IBM (IBM) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | +0.1% | -15.7% |
| 5-year return | +117.6% | -28.7% |
| Volatility (ann.) | 34.7% | 40.0% |
| Beta vs S&P 500 | 0.78 | 1.09 |
| Max drawdown (3Y) | -37.5% | -63.4% |
| Market cap | $225.0B | $47.8B |
| P/E (trailing) | 20.4 | 59.6 |
| Dividend yield | 2.93% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | IBM | WDAY |
|---|---|---|
| 2022 | +10.6% | -38.7% |
| 2023 | +21.8% | +65.0% |
| 2024 | +39.3% | -6.5% |
| 2025 | +38.2% | -16.8% |
| 2026 | -17.7% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBM and WDAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IBM and WDAY?
The IBM/WDAY correlation stands at 0.40 on a 3-year window (1 year: 0.51, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for IBM?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/ibm-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ibm-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IBM correlations · WDAY correlations
