Techniques are described herein that are capable of performing automatic risk analysis of software. An automatic risk analyzer may determine correlations between binaries of the software and source files of the software, between the source files and functions (i.e., sub-routines) of the software, between changes to source code of the software and defects, new features, and/or feature enhancements in the software, between attributes of the software (e.g., attributes associated with the changes to the source code), etc. at various time instances. The automatic risk analyzer may compare the correlations corresponding to a first time instance and the correlations corresponding to a second time instance to determine any of a variety of temporal relationships regarding underlying factors, including but not limited to new feature(s), feature enhancement(s), defect(s), churn rate, code coverage, code complexity, etc. The automatic risk analyzer may determine risk(s) for the software based on the temporal relationships.