LAW vs WDAY: Correlation
CS Disco, Inc. (LAW) and Workday, Inc. (WDAY) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAW and WDAY?
Over the past 3 years, LAW and WDAY moved with a correlation of 0.51, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.51 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 1269.2 %².
By 3-year correlation, WDAY places #4 of the 19 assets tracked against LAW. Twelve-month performance is nearly a tie, at -14.4% for LAW and -15.7% for WDAY. One caveat on sizing: LAW is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LAW vs WDAY: side by side
| LAW (CS Disco, Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -14.4% | -15.7% |
| 5-year return | -91.3% | -28.7% |
| Volatility (ann.) | 62.8% | 40.0% |
| Beta vs S&P 500 | 0.96 | 1.09 |
| Max drawdown (3Y) | -71.7% | -63.4% |
| Market cap | $0.3B | $47.8B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | LAW | WDAY |
|---|---|---|
| 2022 | -82.3% | -38.7% |
| 2023 | +20.1% | +65.0% |
| 2024 | -34.3% | -6.5% |
| 2025 | +55.5% | -16.8% |
| 2026 | -43.2% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAW and WDAY good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between LAW and WDAY?
As of 2026-08-27, the correlation of weekly returns between LAW and WDAY is 0.51 over 3 years, 0.64 over 1 year and 0.47 over 5 years.
Is WDAY a good diversifier for LAW?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
A reading of 0.51 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/law-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/law-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LAW correlations · WDAY correlations
