Which stocks are most correlated with GWRE?

Based on one year of daily returns, the stocks most correlated with GUIDEWIRE SOFTWARE, INC. (GWRE) are WCLD (0.76), IOT (0.72) and NOW (0.71). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with GWRE?

Over the past year, the stocks most inversely correlated with GUIDEWIRE SOFTWARE, INC. (GWRE) are HDGE (-0.52), DWSH (-0.52) and WEBS (-0.47). A negative correlation means the two stocks have tended to move in opposite directions.

GUIDEWIRE SOFTWARE, INC. (GWRE) — Stock Correlations & Overview

Over the past year, GWRE has moved most closely with WCLD, IOT, NOW. Explore the stocks most correlated and inversely correlated with GWRE below, along with its price, financials, and company profile.

Stocks correlated with GWRE

Correlation of daily returns. Higher positive values move with GWRE; negative values move opposite it. Informational only, not investment advice.

Most correlated with GWRE

Symbol	Company	Correlation
WCLD	WisdomTree Cloud Computing Fund	0.76
IOT	Samsara Inc.SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN	0.72
NOW	SERVICENOW, INC.SERVICES-PREPACKAGED SOFTWARE	0.71
XSW	State Street SPDR S&P Software & Services ETF	0.70
NOWL	GraniteShares 2x Long NOW Daily ETF	0.70

Most inversely correlated with GWRE

Symbol	Company	Correlation
HDGE	AdvisorShares Ranger Equity Bear ETF	-0.52
DWSH	AdvisorShares Dorsey Wright Short ETF	-0.52
WEBS	Direxion Daily Dow Jones Internet Bear 3X ETF	-0.47
PALD	Direxion Shares ETF Trust Direxion Daily PANW Bear 1X ETF	-0.39
PLTD	Direxion Shares ETF Trust Direxion Dailly PLTR Bear 1X ETF	-0.37

Frequently asked questions about GWRE correlations

Which stocks are most correlated with GWRE?: Based on one year of daily returns, the stocks most correlated with GUIDEWIRE SOFTWARE, INC. (GWRE) are WCLD (0.76), IOT (0.72) and NOW (0.71). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with GWRE?: Over the past year, the stocks most inversely correlated with GUIDEWIRE SOFTWARE, INC. (GWRE) are HDGE (-0.52), DWSH (-0.52) and WEBS (-0.47). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these GWRE correlations calculated?: We compute the correlation of daily returns between GWRE and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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