NTNX vs WDAY: Correlation
How closely do Nutanix, Inc. (NTNX) and Workday, Inc. (WDAY) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTNX and WDAY?
On 3 years of weekly data the NTNX/WDAY correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. The 5-year figure is 0.47, and annualized covariance runs at 930.0 %².
Among the 16 assets we track against NTNX, WDAY ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NTNX outperformed by 16.0 percentage points (+0.3% for NTNX against -15.7% for WDAY).
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.
NTNX vs WDAY: side by side
| NTNX (Nutanix, Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | +0.3% | -15.7% |
| 5-year return | +90.4% | -28.7% |
| Volatility (ann.) | 45.6% | 40.0% |
| Beta vs S&P 500 | 1.28 | 1.09 |
| Max drawdown (3Y) | -58.6% | -63.4% |
| Market cap | $18.9B | $47.8B |
| P/E (trailing) | 12.7 | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | NTNX | WDAY |
|---|---|---|
| 2022 | -18.2% | -38.7% |
| 2023 | +83.1% | +65.0% |
| 2024 | +28.3% | -6.5% |
| 2025 | -15.5% | -16.8% |
| 2026 | +35.1% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTNX and WDAY good diversifiers for each other?
Only partially. A correlation of 0.51 means NTNX 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 NTNX and WDAY?
The NTNX/WDAY correlation stands at 0.51 on a 3-year window (1 year: 0.58, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for NTNX?
Only partially. A correlation of 0.51 means NTNX 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 0.51 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/ntnx-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ntnx-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NTNX correlations · WDAY correlations
