Paycom Software Correlations

PAYC Stock

USD 153.16 6.20 3.89%

The current 90-days correlation between Paycom Software and InterDigital is 0.02 (i.e., Significant 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

Weak diversification

The correlation between Paycom Software and DJI is 0.37 (i.e., Weak 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

0.95	JG	Aurora Mobile	Pair Corr
0.83	RXT	Rackspace Technology	Pair Corr
0.94	SAP	SAP SE ADR	Pair Corr
0.93	TTD	Trade Desk	Pair Corr
0.8	CLSK	CleanSpark Buyout Trend	Pair Corr
0.92	UPLD	Upland Software	Pair Corr
0.83	HPQ	HP Inc	Pair Corr
0.91	HD	Home Depot	Pair Corr

Moving against Paycom Stock

0.88	TLK	Telkom Indonesia Tbk	Pair Corr
0.88	PTITF	PT Indosat Tbk	Pair Corr
0.87	KEP	Korea Electric Power	Pair Corr
0.82	MGIC	Magic Software Enter	Pair Corr
0.8	EC	Ecopetrol SA ADR	Pair Corr
0.78	PTAIY	Astra International Tbk	Pair Corr
0.7	RDZN	Roadzen Tech Boost	Pair Corr
0.59	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.49	ZM	Zoom Video Communications	Pair Corr
0.34	USDC	USDATA Corp	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.82	CAT	Caterpillar	Pair Corr
0.82	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.81	FTV	Fortive Corp	Pair Corr
0.79	MRK	Merck Company	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.74	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.72	AXP	American Express	Pair Corr
0.69	IBM	International Business	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.51	MCD	McDonalds	Pair Corr
0.5	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Related Correlations Analysis

	IDCC	OTEX	PEGA	DAY	MANH	AKAM	GTM	MNDY	APPF	PCTY
IDCC		0.57	0.35	-0.64	0.2	-0.6	0.63	0.69	0.31	-0.42	IDCC
OTEX	0.57		0.16	-0.79	0.84	-0.93	0.7	0.91	0.32	0.24	OTEX
PEGA	0.35	0.16		-0.01	-0.12	-0.13	0.59	0.29	0.31	-0.02	PEGA
DAY	-0.64	-0.79	-0.01		-0.55	0.79	-0.46	-0.76	-0.13	0.14	DAY
MANH	0.2	0.84	-0.12	-0.55		-0.74	0.45	0.7	0.31	0.59	MANH
AKAM	-0.6	-0.93	-0.13	0.79	-0.74		-0.66	-0.91	-0.33	-0.06	AKAM
GTM	0.63	0.7	0.59	-0.46	0.45	-0.66		0.82	0.74	0.06	GTM
MNDY	0.69	0.91	0.29	-0.76	0.7	-0.91	0.82		0.54	0.05	MNDY
APPF	0.31	0.32	0.31	-0.13	0.31	-0.33	0.74	0.54		0.14	APPF
PCTY	-0.42	0.24	-0.02	0.14	0.59	-0.06	0.06	0.05	0.14		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	+ 0.91	OTEX
MANH	+ 0.84	OTEX
MNDY	+ 0.82	GTM
AKAM	+ 0.79	DAY
APPF	+ 0.74	GTM
GTM	+ 0.7	OTEX

High negative correlations

AKAM	- 0.93	OTEX
MNDY	- 0.91	AKAM
DAY	- 0.79	OTEX
MNDY	- 0.76	DAY
AKAM	- 0.74	MANH
GTM	- 0.66	AKAM

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	2.03	(0.15)	0.00	(0.11)	0.00	0.00	3.53	(4.57)	16.18
OTEX	0.99	(0.25)	0.00	(0.23)	0.00	0.00	1.61	(2.56)	7.58
PEGA	1.79	0.01	0.00	0.06	2.08	(1.85)	4.12	(3.61)	19.04
DAY	0.12	(0.01)	(0.27)	(0.03)	0.15	(0.14)	0.29	(0.25)	0.69
MANH	1.30	(0.31)	0.00	(0.30)	0.00	0.00	2.32	(3.39)	9.96
AKAM	1.45	0.17	0.10	0.21	1.43	(1.62)	2.86	(2.99)	18.30
GTM	1.67	(0.24)	0.00	(0.15)	0.00	0.00	3.72	(4.63)	10.86
MNDY	2.28	(0.47)	0.00	(0.70)	0.00	0.00	3.37	(5.83)	17.07
APPF	1.53	(0.33)	0.00	(0.27)	0.00	0.00	3.08	(2.99)	12.22
PCTY	1.16	(0.14)	0.00	(0.10)	0.00	0.00	2.75	(2.38)	9.24

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