PD vs WDAY: Correlation
PagerDuty, Inc. (PD) and Workday, Inc. (WDAY) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PD and WDAY?
Over the past 3 years, PD and WDAY moved with a correlation of 0.61, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.61 over 3 years. Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 1282.7 %².
In PD's tracked universe of 17 assets, WDAY sits right near the top at #3. Over the last 12 months WDAY came out ahead by 9.8 percentage points (-25.5% against -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.
PD vs WDAY: side by side
| PD (PagerDuty, Inc.) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -25.5% | -15.7% |
| 5-year return | -70.4% | -28.7% |
| Volatility (ann.) | 52.9% | 40.0% |
| Beta vs S&P 500 | 1.44 | 1.09 |
| Max drawdown (3Y) | -78.4% | -63.4% |
| Market cap | $1.0B | $47.8B |
| P/E (trailing) | 5.9 | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | PD | WDAY |
|---|---|---|
| 2022 | -23.6% | -38.7% |
| 2023 | -12.8% | +65.0% |
| 2024 | -21.1% | -6.5% |
| 2025 | -28.2% | -16.8% |
| 2026 | -3.7% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PD and WDAY good diversifiers for each other?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PD and WDAY?
The PD/WDAY correlation stands at 0.61 on a 3-year window (1 year: 0.76, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for PD?
Somewhat, no more. With 0.61 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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/pd-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pd-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PD correlations · WDAY correlations
