Paychex Correlations

PAYX Stock

USD 94.54 4.49 4.53%

The current 90-days correlation between Paychex and Rockwell Automation is 0.02 (i.e., Significant diversification). The correlation of Paychex 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.

Paychex Correlation With Market

Very good diversification

The correlation between Paychex and DJI is -0.43 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paychex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Paychex Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paychex. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

For more information on how to buy Paychex Stock please use our How to Invest in Paychex guide.

Moving together with Paychex Stock

0.65	FA	First Advantage Corp	Pair Corr
0.84	ADP	Automatic Data Processing	Pair Corr
0.75	FVRR	Fiverr International	Pair Corr
0.86	ADP	Automatic Data Processing	Pair Corr
0.76	NIXX	Nixxy Inc	Pair Corr
0.66	CLIK	Click Holdings	Pair Corr

Moving against Paychex Stock

0.81	CEN	Groupe CRIT SA	Pair Corr
0.76	JOB	GEE Group Earnings Call This Week	Pair Corr
0.64	HQI	Hirequest	Pair Corr
0.63	BGSF	BG Staffing	Pair Corr
0.62	KFRC	Kforce Inc	Pair Corr
0.59	NBB	Norman Broadbent Plc	Pair Corr
0.57	RHI	Robert Half International	Pair Corr
0.41	ASGN	ASGN Inc Earnings Call Today	Pair Corr
0.38	ALDLS	DLSI Earnings Call Tomorrow	Pair Corr
0.83	EPD	Enterprise Products	Pair Corr
0.69	OBYCF	Obayashi	Pair Corr
0.67	YLLXF	Yellow Cake plc	Pair Corr
0.66	SECVY	Seche Environnement	Pair Corr
0.63	KCDMY	Kimberly Clark de	Pair Corr
0.61	WMT	Walmart Common Stock	Pair Corr
0.57	ONTF	ON24 Inc	Pair Corr
0.51	SAR	Saratoga Investment Corp	Pair Corr
0.34	SCAGW	Scage Future Warrants	Pair Corr
0.32	31428XBE5	FEDEX P 475	Pair Corr

Related Correlations Analysis

	ROK	DAL	GWW	OTIS	AME	HEI	WCN	FER	ROP	FERG
ROK		0.73	0.75	0.1	0.82	0.58	-0.25	0.77	-0.64	0.33	ROK
DAL	0.73		0.74	0.03	0.67	0.46	0.14	0.74	-0.35	-0.12	DAL
GWW	0.75	0.74		0.25	0.94	0.43	-0.18	0.85	-0.83	0.36	GWW
OTIS	0.1	0.03	0.25		0.26	0.43	-0.42	0.22	-0.19	0.32	OTIS
AME	0.82	0.67	0.94	0.26		0.56	-0.27	0.84	-0.88	0.45	AME
HEI	0.58	0.46	0.43	0.43	0.56		-0.4	0.36	-0.28	0.1	HEI
WCN	-0.25	0.14	-0.18	-0.42	-0.27	-0.4		-0.2	0.39	-0.48	WCN
FER	0.77	0.74	0.85	0.22	0.84	0.36	-0.2		-0.75	0.4	FER
ROP	-0.64	-0.35	-0.83	-0.19	-0.88	-0.28	0.39	-0.75		-0.64	ROP
FERG	0.33	-0.12	0.36	0.32	0.45	0.1	-0.48	0.4	-0.64		FERG
	ROK	DAL	GWW	OTIS	AME	HEI	WCN	FER	ROP	FERG

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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

AME	+ 0.94	GWW
FER	+ 0.85	GWW
FER	+ 0.84	AME
AME	+ 0.82	ROK
FER	+ 0.77	ROK
GWW	+ 0.75	ROK

High negative correlations

ROP	- 0.88	AME
ROP	- 0.83	GWW
ROP	- 0.75	FER
FERG	- 0.64	ROP
ROP	- 0.64	ROK
FERG	- 0.48	WCN

Risk-Adjusted Indicators

There is a big difference between Paychex Stock performing well and Paychex 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 Paychex'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
ROK	1.30	0.08	0.07	0.14	1.59	(1.33)	2.73	(2.77)	10.14
DAL	1.75	0.22	0.18	0.19	1.38	(2.28)	4.65	(2.39)	9.28
GWW	1.08	0.25	0.22	0.34	0.83	(1.37)	3.46	(1.69)	7.07
OTIS	0.82	(0.05)	0.00	(0.05)	0.00	0.00	1.52	(1.85)	5.21
AME	0.87	0.18	0.20	0.30	0.56	(1.06)	1.87	(1.16)	4.58
HEI	1.23	(0.06)	(0.04)	0.03	1.44	(1.27)	2.42	(2.39)	8.75
WCN	0.81	(0.01)	(0.04)	0.07	0.97	(0.91)	1.93	(1.57)	5.53
FER	0.96	0.13	0.10	0.28	0.82	(1.20)	3.24	(1.93)	6.80
ROP	1.17	(0.44)	0.00	(0.38)	0.00	0.00	1.91	(2.96)	12.33
FERG	1.31	(0.02)	0.01	0.07	2.02	(1.24)	3.03	(2.56)	11.07

Paychex Corporate Management

John Gibson	Sr. VP of Service	Profile
Christopher Simmons	Controller, VP	Profile
Dave Wilson	Vice Services	Profile
Chad Parodi	Managing Services	Profile
Christopher DeSalvo	VP Operations	Profile
Frank Fiorille	Compliance Risk	Profile

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