Workiva Correlations

WK Stock

USD 81.87 2.96 3.49%

The current 90-days correlation between Workiva and Clearwater Analytics Holdings is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Workiva moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Workiva moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Workiva Correlation With Market

Weak diversification

The correlation between Workiva and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Workiva and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Workiva Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Workiva. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Workiva Stock please use our How to buy in Workiva Stock guide.

Moving together with Workiva Stock

0.61	MEGASOFT	Megasoft Limited Earnings Call This Week	Pair Corr
0.8	DSG	Dillistone Group	Pair Corr
0.82	VERI	Veritone Earnings Call This Week	Pair Corr
0.75	DUOT	Duos Technologies	Pair Corr
0.75	VMEO	Vimeo Inc	Pair Corr

Moving against Workiva Stock

0.87	MQ	Marqeta Earnings Call Today	Pair Corr
0.8	DV	DoubleVerify Holdings Earnings Call This Week	Pair Corr
0.66	BGE	Bridge Saas	Pair Corr
0.56	JG	Aurora Mobile	Pair Corr
0.49	NN	Nextnav Acquisition Corp Earnings Call Tomorrow	Pair Corr
0.71	688078	Beijing LongRuan Tec	Pair Corr
0.71	GENESYS	Genesys International	Pair Corr
0.53	300845	Zhengzhou J	Pair Corr
0.52	DSGX	Descartes Systems	Pair Corr
0.46	300895	Beijing Topnew Info	Pair Corr
0.36	TREJHARA	TREJHARA SOLUTIONS	Pair Corr
0.33	DOMO	Domo Inc	Pair Corr
0.8	DTST	Data Storage Corp	Pair Corr
0.71	KELLTONTEC	Kellton Tech Solutions Earnings Call This Week	Pair Corr
0.7	NOW	NowVertical Group	Pair Corr
0.55	IOM	iomart Group plc	Pair Corr
0.45	603383	Fujian Apex Software	Pair Corr
0.43	600588	Yonyou Network Technology	Pair Corr

Related Correlations Analysis

	CWAN	FROG	ZETA	VERX	COMP	BTDR	BILL	GBTG	OS	CLBT
CWAN		-0.07	-0.11	0.39	0.74	-0.65	-0.5	-0.02	0.59	-0.58	CWAN
FROG	-0.07		0.43	-0.39	0.13	0.31	0.76	0.69	-0.42	0.71	FROG
ZETA	-0.11	0.43		-0.13	0.22	-0.12	0.41	0.58	-0.07	0.37	ZETA
VERX	0.39	-0.39	-0.13		0.05	-0.34	-0.31	-0.59	0.64	-0.37	VERX
COMP	0.74	0.13	0.22	0.05		-0.7	-0.28	0.28	0.45	-0.44	COMP
BTDR	-0.65	0.31	-0.12	-0.34	-0.7		0.56	0.14	-0.71	0.67	BTDR
BILL	-0.5	0.76	0.41	-0.31	-0.28	0.56		0.43	-0.56	0.84	BILL
GBTG	-0.02	0.69	0.58	-0.59	0.28	0.14	0.43		-0.5	0.52	GBTG
OS	0.59	-0.42	-0.07	0.64	0.45	-0.71	-0.56	-0.5		-0.74	OS
CLBT	-0.58	0.71	0.37	-0.37	-0.44	0.67	0.84	0.52	-0.74		CLBT
	CWAN	FROG	ZETA	VERX	COMP	BTDR	BILL	GBTG	OS	CLBT

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

CLBT	+ 0.84	BILL
BILL	+ 0.76	FROG
COMP	+ 0.74	CWAN
CLBT	+ 0.71	FROG
GBTG	+ 0.69	FROG
CLBT	+ 0.67	BTDR

High negative correlations

CLBT	- 0.74	OS
OS	- 0.71	BTDR
BTDR	- 0.7	COMP
BTDR	- 0.65	CWAN
GBTG	- 0.59	VERX
CLBT	- 0.58	CWAN

Risk-Adjusted Indicators

There is a big difference between Workiva Stock performing well and Workiva Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Workiva's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CWAN	1.65	(0.40)	0.00	(0.13)	0.00	0.00	3.48	(5.59)	12.21
FROG	1.94	0.00	0.02	0.09	2.38	(2.08)	5.02	(3.85)	16.80
ZETA	3.02	(0.11)	0.02	0.05	3.57	(2.95)	6.89	(5.22)	37.14
VERX	2.34	(0.84)	0.00	(0.47)	0.00	0.00	5.43	(6.62)	18.05
COMP	2.18	(0.07)	(0.01)	0.04	3.37	(2.40)	4.37	(4.04)	25.17
BTDR	4.81	0.66	0.17	0.29	4.72	(6.25)	10.28	(9.43)	38.23
BILL	2.08	0.09	0.05	0.16	2.16	(2.28)	3.56	(3.98)	23.83
GBTG	1.48	0.16	0.14	0.17	1.41	(1.76)	3.59	(2.84)	16.59
OS	2.38	(0.52)	0.00	(0.16)	0.00	0.00	4.25	(5.00)	12.92
CLBT	1.84	0.15	0.07	0.23	2.08	(2.15)	3.60	(3.89)	15.46

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