Dayforce Correlations

DAY Stock

69.86 0.11 0.16%

The current 90-days correlation between Dayforce and Procore Technologies is 0.09 (i.e., Significant diversification). The correlation of Dayforce 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.

Dayforce Correlation With Market

Poor diversification

The correlation between Dayforce and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dayforce and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Dayforce Stock

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Dayforce Stock

0.73	RNI	OXFORD METRICS LS	Pair Corr
0.73	TRB	Tribal Group plc	Pair Corr

Moving against Dayforce Stock

0.78	DOMO	Domo Inc Earnings Call This Week	Pair Corr
0.75	1Q5	Dropbox	Pair Corr
0.68	VS	Versus Systems	Pair Corr
0.63	DT	Dynatrace Holdings LLC	Pair Corr
0.63	2TY	PagerDuty	Pair Corr
0.62	DMRC	Digimarc Earnings Call This Week	Pair Corr
0.61	MQ	Marqeta Earnings Call This Week	Pair Corr
0.6	WK	Workiva Sell-off Trend	Pair Corr
0.59	DOCU	DocuSign	Pair Corr
0.57	PD	Pagerduty	Pair Corr
0.56	BL	Blackline	Pair Corr
0.49	35U	PAR TECHNOLOGY DL	Pair Corr
0.48	U	Unity Software	Pair Corr
0.45	VERI	Veritone	Pair Corr
0.4	RM	RM Plc	Pair Corr
0.37	QH	Quhuo	Pair Corr
0.34	MTLO	Martello Technologies	Pair Corr
0.75	VTEX	VTEX Earnings Call This Week	Pair Corr
0.69	AN5	Alpha Systems	Pair Corr
0.68	DTCX	Datacentrex Symbol Change	Pair Corr
0.65	OBL	OBIC CoLtd	Pair Corr
0.64	LY0	Lyft Inc	Pair Corr
0.64	NCC	NCC Group plc	Pair Corr
0.6	BRF	IRESS LTD	Pair Corr
0.59	SAP	SAP SE	Pair Corr

Related Correlations Analysis

	PCOR	PAYC	MANH	PEGA	GTM	QXO	IDCC	ESTC	MNDY	OTEX
PCOR		0.98	0.95	0.95	0.97	-0.56	-0.39	0.91	0.96	0.98	PCOR
PAYC	0.98		0.95	0.91	0.96	-0.63	-0.38	0.9	0.97	0.97	PAYC
MANH	0.95	0.95		0.88	0.96	-0.51	-0.45	0.92	0.93	0.95	MANH
PEGA	0.95	0.91	0.88		0.92	-0.42	-0.38	0.9	0.89	0.95	PEGA
GTM	0.97	0.96	0.96	0.92		-0.5	-0.53	0.93	0.96	0.95	GTM
QXO	-0.56	-0.63	-0.51	-0.42	-0.5		0.04	-0.41	-0.62	-0.58	QXO
IDCC	-0.39	-0.38	-0.45	-0.38	-0.53	0.04		-0.52	-0.46	-0.35	IDCC
ESTC	0.91	0.9	0.92	0.9	0.93	-0.41	-0.52		0.9	0.89	ESTC
MNDY	0.96	0.97	0.93	0.89	0.96	-0.62	-0.46	0.9		0.93	MNDY
OTEX	0.98	0.97	0.95	0.95	0.95	-0.58	-0.35	0.89	0.93		OTEX
	PCOR	PAYC	MANH	PEGA	GTM	QXO	IDCC	ESTC	MNDY	OTEX

Please upgrade your account to get full access to Macroaxis premium features

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

PAYC	+ 0.98	PCOR
OTEX	+ 0.98	PCOR
GTM	+ 0.97	PCOR
MNDY	+ 0.97	PAYC
OTEX	+ 0.97	PAYC
MNDY	+ 0.96	PCOR

High negative correlations

QXO	- 0.63	PAYC
MNDY	- 0.62	QXO
OTEX	- 0.58	QXO
QXO	- 0.56	PCOR
IDCC	- 0.53	GTM
ESTC	- 0.52	IDCC

Risk-Adjusted Indicators

There is a big difference between Dayforce Stock performing well and Dayforce 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 Dayforce'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
PCOR	2.13	(0.46)	0.00	(0.19)	0.00	0.00	4.15	(6.65)	15.96
PAYC	1.79	(0.36)	0.00	(0.53)	0.00	0.00	4.29	(4.37)	9.96
MANH	1.81	(0.45)	0.00	(0.16)	0.00	0.00	3.03	(4.64)	14.73
PEGA	2.64	(0.27)	0.00	(0.16)	0.00	0.00	5.18	(7.45)	17.31
GTM	2.26	(0.69)	0.00	(0.26)	0.00	0.00	4.40	(6.51)	17.95
QXO	2.96	0.35	0.19	0.23	2.67	(3.91)	5.47	(4.21)	27.19
IDCC	2.12	0.19	0.05	0.49	2.41	(2.49)	5.50	(3.96)	16.69
ESTC	2.57	(0.54)	0.00	(0.27)	0.00	0.00	4.71	(7.71)	14.67
MNDY	2.66	(1.07)	0.00	(0.62)	0.00	0.00	3.58	(8.39)	24.99
OTEX	1.66	(0.55)	0.00	(0.22)	0.00	0.00	2.44	(4.20)	16.91

Dayforce Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Dayforce stock to make a market-neutral strategy. Peer analysis of Dayforce could also be used in its relative valuation, which is a method of valuing Dayforce by comparing valuation metrics with similar companies.

Procore Technologies Paycom Software Manhattan Associates Pegasystems ZoomInfo Technologies QXO Inc InterDigital Elastic NV MondayCom Open Text Corp American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Dayforce Corporate Management

Christopher Armstrong	Executive Officer	Profile
Jeffrey Jacobs	Head Reporting	Profile
Samer Alkharrat	Executive Officer	Profile
Justine Janssen	Executive Officer	Profile
Joseph Korngiebel	Executive Officer	Profile
Carrie Rasmussen	Executive Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC