PEG vs WDAY: Correlation
Public Service Enterprise Group (PEG) and Workday, Inc. (WDAY) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEG and WDAY?
On 3 years of weekly data the PEG/WDAY correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.23 over 3 years. The 5-year figure is -0.01, and annualized covariance runs at -173.5 %².
Among the 32 assets we track against PEG, WDAY sits near the bottom by co-movement, at rank #29. On 12-month performance PEG holds a 7.1-point edge, -8.6% against -15.7%. This link changes with the market regime, having swung between -0.45 and 0.21 on a rolling one-year basis. Risk is not evenly split, since WDAY carries 2.1 times the volatility of the other side.
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.
PEG vs WDAY: side by side
| PEG (Public Service Enterprise Group) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -8.6% | -15.7% |
| 5-year return | +34.9% | -28.7% |
| Volatility (ann.) | 18.9% | 40.0% |
| Beta vs S&P 500 | 0.25 | 1.09 |
| Max drawdown (3Y) | -18.8% | -63.4% |
| Market cap | $36.5B | $47.8B |
| P/E (trailing) | 18.4 | 59.6 |
| Dividend yield | 3.51% | 0.00% |
| Sector / category | Utilities | Information Technology |
Year-by-year returns
| Year | PEG | WDAY |
|---|---|---|
| 2022 | -5.1% | -38.7% |
| 2023 | +3.6% | +65.0% |
| 2024 | +42.6% | -6.5% |
| 2025 | -1.9% | -16.8% |
| 2026 | -7.1% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEG and WDAY good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PEG and WDAY?
As of 2026-08-27, the correlation of weekly returns between PEG and WDAY is -0.23 over 3 years, -0.43 over 1 year and -0.01 over 5 years.
Is WDAY a good diversifier for PEG?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/peg-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/peg-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PEG correlations · WDAY correlations
