Automatic Data Correlations

ADP Stock

USD 305.15 0.58 0.19%

The current 90-days correlation between Automatic Data Processing and ManpowerGroup is 0.3 (i.e., Weak diversification). The correlation of Automatic Data is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Automatic Data Correlation With Market

Poor diversification

The correlation between Automatic Data Processing and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Automatic Data Processing and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Automatic Data Processing. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Automatic Stock

0.78	BV	BrightView Holdings	Pair Corr
0.77	DRVN	Driven Brands Holdings	Pair Corr
0.87	IIIV	i3 Verticals	Pair Corr
0.78	INOD	Innodata Tech Boost	Pair Corr
0.77	PYCR	Paycor HCM	Pair Corr
0.73	SPIR	Spire Global Symbol Change	Pair Corr
0.67	CASS	Cass Information Systems Fiscal Year End 23rd of January 2025	Pair Corr
0.83	CSGS	CSG Systems International	Pair Corr
0.82	B	Barnes Group	Pair Corr
0.84	J	Jacobs Solutions	Pair Corr
0.86	R	Ryder System	Pair Corr
0.87	DIST	Distoken Acquisition	Pair Corr
0.64	AL	Air Lease	Pair Corr
0.89	AZ	A2Z Smart Technologies	Pair Corr
0.69	BW	Babcock Wilcox Enter	Pair Corr
0.83	CR	Crane Company	Pair Corr
0.94	CW	Curtiss Wright	Pair Corr

Moving against Automatic Stock

0.81	WHLM	Wilhelmina	Pair Corr
0.66	MLKN	MillerKnoll	Pair Corr
0.65	CVEO	Civeo Corp	Pair Corr
0.49	AP	Ampco Pittsburgh	Pair Corr
0.48	MMS	Maximus	Pair Corr
0.46	RTO	Rentokil Initial PLC	Pair Corr
0.39	FA	First Advantage Corp	Pair Corr
0.78	CP	Canadian Pacific Railway	Pair Corr
0.78	RR	Richtech Robotics Class	Pair Corr
0.76	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.72	SB	Safe Bulkers Potential Growth	Pair Corr
0.63	MG	Mistras Group	Pair Corr
0.37	FC	Franklin Covey	Pair Corr
0.32	TH	Target Hospitality Corp	Pair Corr
0.31	HY	Hyster Yale Materials	Pair Corr

Related Correlations Analysis

	RHI	BBSI	MAN	KFRC	KFY	KELYA	PAYX	TBI	ZIP	BZ
RHI		0.89	-0.64	-0.31	0.81	-0.71	0.88	-0.33	0.32	0.22	RHI
BBSI	0.89		-0.58	-0.11	0.86	-0.85	0.77	-0.36	0.31	-0.04	BBSI
MAN	-0.64	-0.58		0.55	-0.22	0.72	-0.72	0.57	0.1	0.03	MAN
KFRC	-0.31	-0.11	0.55		0.14	0.22	-0.56	0.57	0.12	-0.54	KFRC
KFY	0.81	0.86	-0.22	0.14		-0.54	0.6	-0.02	0.45	0.09	KFY
KELYA	-0.71	-0.85	0.72	0.22	-0.54		-0.62	0.64	0.05	0.15	KELYA
PAYX	0.88	0.77	-0.72	-0.56	0.6	-0.62		-0.4	0.38	0.3	PAYX
TBI	-0.33	-0.36	0.57	0.57	-0.02	0.64	-0.4		0.41	-0.17	TBI
ZIP	0.32	0.31	0.1	0.12	0.45	0.05	0.38	0.41		0.1	ZIP
BZ	0.22	-0.04	0.03	-0.54	0.09	0.15	0.3	-0.17	0.1		BZ
	RHI	BBSI	MAN	KFRC	KFY	KELYA	PAYX	TBI	ZIP	BZ

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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

BBSI	+ 0.89	RHI
PAYX	+ 0.88	RHI
KFY	+ 0.86	BBSI
KFY	+ 0.81	RHI
PAYX	+ 0.77	BBSI
KELYA	+ 0.72	MAN

High negative correlations

KELYA	- 0.85	BBSI
PAYX	- 0.72	MAN
KELYA	- 0.71	RHI
MAN	- 0.64	RHI
PAYX	- 0.62	KELYA
MAN	- 0.58	BBSI

Risk-Adjusted Indicators

There is a big difference between Automatic Stock performing well and Automatic Data 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 Automatic Data'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
RHI	1.24	0.09	0.14	0.18	1.00	(1.53)	2.85	(2.06)	13.22
BBSI	1.09	0.11	0.15	0.20	0.77	(1.29)	2.23	(1.71)	9.43
MAN	1.40	(0.35)	0.00	(0.14)	0.00	0.00	2.68	(2.84)	12.95
KFRC	1.32	(0.27)	0.00	(0.12)	0.00	0.00	2.48	(3.03)	9.02
KFY	1.30	(0.04)	0.03	0.10	1.35	(1.42)	3.56	(2.17)	9.56
KELYA	1.73	(0.69)	0.00	(0.30)	0.00	0.00	2.39	(4.04)	27.28
PAYX	0.84	0.08	0.09	0.20	0.52	(1.04)	2.19	(1.46)	8.29
TBI	2.25	(0.33)	0.00	(0.03)	0.00	0.00	4.54	(4.52)	16.74
ZIP	2.18	(0.15)	(0.03)	0.03	2.39	(2.82)	5.05	(4.71)	18.77
BZ	3.10	(0.17)	0.00	(0.04)	0.00	0.00	7.36	(6.06)	28.38

Automatic Data Corporate Management

M Heron	Managing Operations	Profile
Jonathan Lehberger	Corporate Officer	Profile
David Kwon	Chief VP	Profile
Don McGuire	Chief Officer	Profile
Max Li	Global Officer	Profile

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