TEAM vs WDAY: Correlation
How closely do Atlassian Corporation (TEAM) and Workday, Inc. (WDAY) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEAM and WDAY?
On 3 years of weekly data the TEAM/WDAY correlation comes out at 0.65, strong. The past 12 months show a tighter link (0.77) than the 3-year average (0.65). The 5-year figure is 0.68, and annualized covariance runs at 1596.4 %².
In TEAM's tracked universe of 42 assets, WDAY sits right near the top at #1. Correlation aside, the last 12 months split them widely, with TEAM ahead by 23.7 points (+8.0% versus -15.7%). One caveat on sizing: TEAM is 1.5 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.
TEAM vs WDAY: side by side
| TEAM (Atlassian Corporation) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | +8.0% | -15.7% |
| 5-year return | -49.3% | -28.7% |
| Volatility (ann.) | 61.5% | 40.0% |
| Beta vs S&P 500 | 1.66 | 1.09 |
| Max drawdown (3Y) | -82.3% | -63.4% |
| Market cap | $47.0B | $47.8B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | TEAM | WDAY |
|---|---|---|
| 2022 | -66.3% | -38.7% |
| 2023 | +84.8% | +65.0% |
| 2024 | +2.3% | -6.5% |
| 2025 | -33.4% | -16.8% |
| 2026 | +14.5% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEAM and WDAY good diversifiers for each other?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between TEAM and WDAY?
As of 2026-08-27, the correlation of weekly returns between TEAM and WDAY is 0.65 over 3 years, 0.77 over 1 year and 0.68 over 5 years.
Is WDAY a good diversifier for TEAM?
To a limited degree. At 0.65 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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/team-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/team-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TEAM correlations · WDAY correlations
