Automatic Data Correlations

ADP Stock

USD 290.70 0.00 0.00%

The current 90-days correlation between Automatic Data Processing and ManpowerGroup is 0.44 (i.e., Very weak diversification). The correlation of Automatic Data 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.

Automatic Data Correlation With Market

Very weak diversification

The correlation between Automatic Data Processing and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Automatic Data Processing and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Automatic Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Automatic Data Processing. 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.

Moving together with Automatic Stock

0.61

CLIK

Click Holdings

Pair Corr

Moving against Automatic Stock

0.84	BAC-PL	Bank of America Earnings Call This Week	Pair Corr
0.78	NBB	Norman Broadbent Plc	Pair Corr
0.77	WFC-PL	Wells Fargo Earnings Call This Week	Pair Corr
0.77	CHRS	Coherus BioSciences	Pair Corr
0.74	INOD	Innodata	Pair Corr
0.72	FNMFO	Federal National Mortgage	Pair Corr
0.72	BCH	Banco De Chile	Pair Corr
0.71	WF	Woori Financial Group	Pair Corr
0.6	AVAL	Grupo Aval	Pair Corr
0.8	EMPG	Empro Group Ordinary	Pair Corr
0.76	CIM-PA	Chimera Investment	Pair Corr
0.76	TYFG	Tri County Financial	Pair Corr
0.75	CMPX	Compass Therapeutics	Pair Corr
0.74	CTNT	Cheetah Net Supply	Pair Corr
0.72	LUGDF	Lundin Gold	Pair Corr
0.72	HROWL	Harrow Health 8625	Pair Corr
0.71	ARL	American Realty Investors	Pair Corr
0.71	CDP	COPT Defense Properties	Pair Corr
0.7	ALVLF	Big Ridge Gold	Pair Corr
0.7	JBGS	JBG SMITH Properties	Pair Corr
0.63	CRBJY	China Resources Land	Pair Corr
0.49	IVR-PC	Invesco Mortgage Capital	Pair Corr
0.46	SNN	Smith Nephew SNATS	Pair Corr
0.8	NTAP	NetApp Inc	Pair Corr
0.79	IONQ	IONQ Inc Downward Rally	Pair Corr
0.75	TTMI	TTM Technologies	Pair Corr
0.65	QBTS	D Wave Quantum Aggressive Push	Pair Corr
0.65	AGNC	AGNC Investment Corp	Pair Corr
0.63	NYMTL	New York Mortgage Symbol Change	Pair Corr
0.52	OZFRY	OFX Group	Pair Corr
0.49	594918CF9	MICROSOFT PORATION	Pair Corr

Related Correlations Analysis

	PAYX	RHI	MAN	UPWK	NSP	ITW	APD	EMR	BDX
PAYX		0.71	0.82	-0.85	0.78	-0.23	0.8	0.71	-0.42	PAYX
RHI	0.71		0.85	-0.49	0.85	-0.09	0.59	0.65	-0.52	RHI
MAN	0.82	0.85		-0.65	0.85	-0.01	0.65	0.65	-0.25	MAN
UPWK	-0.85	-0.49	-0.65		-0.49	0.42	-0.59	-0.64	0.38	UPWK
NSP	0.78	0.85	0.85	-0.49		-0.01	0.64	0.66	-0.39	NSP
ITW	-0.23	-0.09	-0.01	0.42	-0.01		0.19	-0.38	0.65	ITW
APD	0.8	0.59	0.65	-0.59	0.64	0.19		0.47	-0.07	APD
EMR	0.71	0.65	0.65	-0.64	0.66	-0.38	0.47		-0.6	EMR
BDX	-0.42	-0.52	-0.25	0.38	-0.39	0.65	-0.07	-0.6		BDX
	PAYX	RHI	MAN	UPWK	NSP	ITW	APD	EMR	BDX

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

MAN	+ 0.85	RHI
NSP	+ 0.85	RHI
NSP	+ 0.85	MAN
MAN	+ 0.82	PAYX
APD	+ 0.8	PAYX
NSP	+ 0.78	PAYX

High negative correlations

UPWK	- 0.85	PAYX
UPWK	- 0.65	MAN
EMR	- 0.64	UPWK
BDX	- 0.6	EMR
APD	- 0.59	UPWK
BDX	- 0.52	RHI

Risk-Adjusted Indicators

There is a big difference between Automatic Stock performing well and Automatic Data 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 Automatic Data'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
PAYX	0.95	(0.27)	0.00	(0.18)	0.00	0.00	1.73	(2.51)	5.19
RHI	1.68	(0.43)	0.00	(0.13)	0.00	0.00	3.38	(3.44)	9.37
MAN	2.02	(0.29)	0.00	(0.07)	0.00	0.00	4.80	(3.54)	13.61
UPWK	2.22	0.35	0.13	0.50	2.31	(2.44)	4.08	(3.99)	18.54
NSP	2.17	(0.47)	0.00	(0.07)	0.00	0.00	4.94	(3.36)	28.15
ITW	0.77	(0.06)	(0.06)	0.01	0.88	(0.84)	1.82	(1.46)	4.91
APD	0.90	(0.17)	0.00	(0.07)	0.00	0.00	1.97	(1.72)	6.24
EMR	1.05	(0.17)	0.00	(0.05)	0.00	0.00	2.78	(2.43)	7.80
BDX	1.15	0.11	0.08	0.19	1.26	(1.27)	2.22	(2.51)	11.79

Automatic Data Corporate Management

M Heron	Managing Operations	Profile
David Kwon	Chief VP	Profile
James Sperduto	Retirement Business	Profile
Max Li	Global Officer	Profile
Brock Albinson	Principal Accounting Officer and Corporate Controller	Profile

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