Paycom Software Correlations

PAYC Stock

USD 114.72 0.01 0.01%

The current 90-days correlation between Paycom Software and Lam Research Corp is -0.25 (i.e., Very good diversification). The correlation of Paycom Software 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.

Paycom Software Correlation With Market

Excellent diversification

The correlation between Paycom Software and DJI is -0.66 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paycom Software and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Paycom Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paycom Software. 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.

For information on how to trade Paycom Stock refer to our How to Trade Paycom Stock guide.

Moving together with Paycom Stock

0.9	U	Unity Software	Pair Corr
0.61	9NY	BYTES TECHGRP LS	Pair Corr
0.96	BL	Blackline	Pair Corr
0.93	DT	Dynatrace Holdings LLC	Pair Corr
0.75	DV	DoubleVerify Holdings	Pair Corr
0.92	35U	PAR TECHNOLOGY DL Earnings Call This Week	Pair Corr
0.91	MQ	Marqeta	Pair Corr
0.92	PD	Pagerduty	Pair Corr
0.8	VS	Versus Systems	Pair Corr
0.95	WK	Workiva	Pair Corr
0.62	MTLO	Martello Technologies	Pair Corr
0.86	DMRC	Digimarc	Pair Corr
0.85	RM	RM Plc	Pair Corr
0.91	2TY	PagerDuty	Pair Corr
0.97	DOCU	DocuSign	Pair Corr
0.85	DOMO	Domo Inc Buyout Trend	Pair Corr
0.86	1Q5	Dropbox	Pair Corr
0.85	VERI	Veritone	Pair Corr
0.9	VERX	Vertex	Pair Corr
0.95	6NCA	NCINO INC DL	Pair Corr
0.9	DSGX	Descartes Systems	Pair Corr
0.92	LY0	Lyft Inc	Pair Corr
0.73	0M5	Bill Holdings	Pair Corr
0.84	AN5	Alpha Systems	Pair Corr

Moving against Paycom Stock

0.86	RNI	OXFORD METRICS LS	Pair Corr
0.85	60Z	UNIFIEDPOST GRP SANV Earnings Call This Week	Pair Corr
0.75	JG	Aurora Mobile	Pair Corr
0.75	DSG	Dillistone Group PLC	Pair Corr
0.58	TRB	Tribal Group plc	Pair Corr
0.55	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
0.45	LUS1	Lang Schwarz Aktieng	Pair Corr
0.35	XV7	SERESCO 16	Pair Corr
0.73	MKQ	Mitek Systems	Pair Corr
0.71	89P	CLAVISTER HOLDING	Pair Corr
0.45	EGHT	8x8 Common Stock	Pair Corr

Related Correlations Analysis

	SHOP	UBER	APP	MU	NOW	IBM	CSCO	LRCX
SHOP		0.65	0.95	-0.66	0.8	0.69	-0.51	-0.59	SHOP
UBER	0.65		0.62	-0.65	0.81	0.67	-0.45	-0.64	UBER
APP	0.95	0.62		-0.64	0.79	0.72	-0.35	-0.58	APP
MU	-0.66	-0.65	-0.64		-0.91	-0.49	0.28	0.98	MU
NOW	0.8	0.81	0.79	-0.91		0.62	-0.42	-0.9	NOW
IBM	0.69	0.67	0.72	-0.49	0.62		-0.12	-0.46	IBM
CSCO	-0.51	-0.45	-0.35	0.28	-0.42	-0.12		0.25	CSCO
LRCX	-0.59	-0.64	-0.58	0.98	-0.9	-0.46	0.25		LRCX
	SHOP	UBER	APP	MU	NOW	IBM	CSCO	LRCX

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

LRCX	+ 0.98	MU
APP	+ 0.95	SHOP
NOW	+ 0.81	UBER
NOW	+ 0.8	SHOP
NOW	+ 0.79	APP
IBM	+ 0.72	APP

High negative correlations

NOW	- 0.91	MU
LRCX	- 0.9	NOW
MU	- 0.66	SHOP
MU	- 0.65	UBER
MU	- 0.64	APP
LRCX	- 0.64	UBER

Risk-Adjusted Indicators

There is a big difference between Paycom Stock performing well and Paycom Software 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 Paycom Software'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
SHOP	2.62	(0.29)	0.00	(0.10)	0.00	0.00	5.67	(6.78)	15.50
UBER	1.56	(0.35)	0.00	(0.63)	0.00	0.00	2.46	(3.82)	11.09
APP	3.81	(0.41)	0.00	(0.16)	0.00	0.00	7.44	(8.24)	32.87
MU	3.55	0.81	0.22	0.54	3.26	(4.20)	9.94	(5.56)	20.06
NOW	2.14	(0.74)	0.00	(1.30)	0.00	0.00	2.69	(6.97)	13.48
IBM	1.56	(0.34)	0.00	(0.17)	0.00	0.00	2.61	(4.69)	11.62
CSCO	1.22	(0.03)	(0.01)	0.04	2.46	(1.23)	2.96	(2.35)	15.57
LRCX	2.63	0.67	0.23	0.40	2.78	(2.99)	7.00	(5.07)	17.49

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