ROP vs WDAY: Correlation
Roper Technologies (ROP) and Workday, Inc. (WDAY) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROP and WDAY?
On 3 years of weekly data the ROP/WDAY correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.52 over 3. The 5-year figure is 0.55, and annualized covariance runs at 428.1 %².
By 3-year correlation, WDAY places #23 of the 47 assets tracked against ROP. Neither side won the trailing year by much: -19.3% against -15.7%. Across three years, the rolling one-year figure varied moderately, from 0.28 to 0.60. Risk is not evenly split, since WDAY carries 2.0 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.
ROP vs WDAY: side by side
| ROP (Roper Technologies) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -19.3% | -15.7% |
| 5-year return | -9.6% | -28.7% |
| Volatility (ann.) | 20.5% | 40.0% |
| Beta vs S&P 500 | 0.55 | 1.09 |
| Max drawdown (3Y) | -46.5% | -63.4% |
| Market cap | $41.8B | $47.8B |
| P/E (trailing) | 17.6 | 59.6 |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | ROP | WDAY |
|---|---|---|
| 2022 | -11.6% | -38.7% |
| 2023 | +26.9% | +65.0% |
| 2024 | -4.1% | -6.5% |
| 2025 | -13.8% | -16.8% |
| 2026 | -4.4% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ROP and WDAY good diversifiers for each other?
Only partially. A correlation of 0.52 means ROP 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 ROP and WDAY?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.56 over the last year and 0.55 over 5 years.
Is WDAY a good diversifier for ROP?
Only partially. A correlation of 0.52 means ROP 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 0.52 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/rop-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rop-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ROP correlations · WDAY correlations
