Paycom Software Correlations

PAYC Stock

USD 152.29 0.28 0.18%

The current 90-days correlation between Paycom Software and InterDigital is -0.08 (i.e., 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

Very good diversification

The correlation between Paycom Software and DJI is -0.49 (i.e., Very good 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 various price indices.

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

Moving together with Paycom Stock

0.79	BTDR	Bitdeer Technologies	Pair Corr
0.81	CLSK	CleanSpark	Pair Corr
0.68	DGNX	Diginex Limited Ordinary	Pair Corr
0.85	HPQ	HP Inc	Pair Corr

Moving against Paycom Stock

0.83	PPERY	Bank Mandiri Persero	Pair Corr
0.78	TLK	Telkom Indonesia Tbk	Pair Corr
0.76	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.67	CWAN	Clearwater Analytics	Pair Corr
0.59	PPERF	Bank Mandiri Persero	Pair Corr
0.58	PTAIY	Astra International Tbk	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.72	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.67	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.56	WMT	Walmart Common Stock	Pair Corr
0.43	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.42	JPM	JPMorgan Chase	Pair Corr
0.38	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	IDCC	OTEX	PEGA	DAY	MANH	AKAM	GTM	MNDY	APPF	PCTY
IDCC		0.52	0.43	-0.82	0.55	-0.75	0.58	0.84	0.68	-0.22	IDCC
OTEX	0.52		0.59	-0.36	0.11	-0.49	0.61	0.58	0.59	-0.09	OTEX
PEGA	0.43	0.59		-0.34	0.45	-0.61	0.79	0.67	0.58	0.38	PEGA
DAY	-0.82	-0.36	-0.34		-0.66	0.79	-0.54	-0.84	-0.62	0.22	DAY
MANH	0.55	0.11	0.45	-0.66		-0.67	0.62	0.71	0.45	0.3	MANH
AKAM	-0.75	-0.49	-0.61	0.79	-0.67		-0.78	-0.92	-0.63	0.09	AKAM
GTM	0.58	0.61	0.79	-0.54	0.62	-0.78		0.84	0.77	0.14	GTM
MNDY	0.84	0.58	0.67	-0.84	0.71	-0.92	0.84		0.76	-0.04	MNDY
APPF	0.68	0.59	0.58	-0.62	0.45	-0.63	0.77	0.76		0.02	APPF
PCTY	-0.22	-0.09	0.38	0.22	0.3	0.09	0.14	-0.04	0.02		PCTY
	IDCC	OTEX	PEGA	DAY	MANH	AKAM	GTM	MNDY	APPF	PCTY

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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

MNDY	+ 0.84	IDCC
MNDY	+ 0.84	GTM
GTM	+ 0.79	PEGA
AKAM	+ 0.79	DAY
APPF	+ 0.77	GTM
APPF	+ 0.76	MNDY

High negative correlations

MNDY	- 0.92	AKAM
MNDY	- 0.84	DAY
DAY	- 0.82	IDCC
GTM	- 0.78	AKAM
AKAM	- 0.75	IDCC
AKAM	- 0.67	MANH

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
IDCC	2.04	(0.16)	0.00	(0.45)	0.00	0.00	3.53	(4.57)	17.55
OTEX	1.22	(0.51)	0.00	(1.37)	0.00	0.00	1.45	(3.91)	7.58
PEGA	2.06	(0.13)	0.00	(0.17)	0.00	0.00	4.59	(4.07)	21.07
DAY	0.11	0.01	(0.46)	0.21	0.00	(0.15)	0.29	(0.16)	0.67
MANH	1.27	(0.25)	0.00	(0.33)	0.00	0.00	2.51	(4.09)	7.48
AKAM	1.76	0.31	0.17	0.32	1.64	(1.99)	4.01	(3.43)	18.87
GTM	1.84	(0.32)	0.00	(0.19)	0.00	0.00	4.11	(4.63)	16.16
MNDY	2.15	(0.54)	0.00	(1.24)	0.00	0.00	3.21	(6.07)	17.07
APPF	1.45	(0.21)	0.00	(0.11)	0.00	0.00	3.09	(3.72)	12.22
PCTY	1.34	(0.13)	0.00	(0.05)	0.00	0.00	3.51	(3.07)	9.24

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