Paychex Correlations

PAYX Stock

USD 149.12 1.20 0.80%

The current 90-days correlation between Paychex and Robert Half International is 0.66 (i.e., Poor 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

Poor diversification

The correlation between Paychex and DJI is 0.79 (i.e., Poor 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 manufacturing.

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

Moving together with Paychex Stock

0.78	BR	Broadridge Financial	Pair Corr
0.79	BV	BrightView Holdings	Pair Corr
0.84	FA	First Advantage Corp	Pair Corr
0.67	LZ	LegalZoom	Pair Corr
0.75	WM	Waste Management	Pair Corr
0.74	DLHC	DLH Holdings Corp	Pair Corr
0.74	DRVN	Driven Brands Holdings	Pair Corr
0.83	VLTO	Veralto	Pair Corr
0.95	VRSK	Verisk Analytics Sell-off Trend	Pair Corr
0.81	VSEC	VSE Corporation	Pair Corr
0.75	EEFT	Euronet Worldwide	Pair Corr
0.81	WLDN	Willdan Group	Pair Corr
0.63	ABM	ABM Industries	Pair Corr
0.97	ADP	Automatic Data Processing	Pair Corr
0.65	BTM	Bitcoin Depot Buyout Trend	Pair Corr
0.68	FORR	Forrester Research	Pair Corr
0.73	CLH	Clean Harbors	Pair Corr
0.78	FOUR	Shift4 Payments	Pair Corr

Moving against Paychex Stock

0.72	WFCF	Where Food Comes	Pair Corr
0.69	VIRC	Virco Manufacturing	Pair Corr
0.62	MG	Mistras Group	Pair Corr
0.6	G	Genpact Limited	Pair Corr
0.35	NL	NL Industries	Pair Corr
0.31	VCIG	VCI Global Limited	Pair Corr
0.41	AWX	Avalon Holdings	Pair Corr
0.41	GEO	Geo Group	Pair Corr
0.31	BCO	Brinks Company	Pair Corr

Related Correlations Analysis

	RHI	MAN	UPWK	NSP	KFY	KFRC	KELYA	HSII	BGSF	HSON
RHI		0.95	-0.27	0.86	0.17	0.9	0.82	0.26	-0.25	0.67	RHI
MAN	0.95		-0.46	0.88	0.07	0.92	0.78	0.18	-0.31	0.63	MAN
UPWK	-0.27	-0.46		-0.57	0.6	-0.5	0.05	0.53	0.54	-0.15	UPWK
NSP	0.86	0.88	-0.57		-0.28	0.92	0.53	-0.19	-0.54	0.67	NSP
KFY	0.17	0.07	0.6	-0.28		0.02	0.53	0.95	0.75	-0.17	KFY
KFRC	0.9	0.92	-0.5	0.92	0.02		0.68	0.1	-0.28	0.51	KFRC
KELYA	0.82	0.78	0.05	0.53	0.53	0.68		0.59	0.12	0.57	KELYA
HSII	0.26	0.18	0.53	-0.19	0.95	0.1	0.59		0.68	-0.16	HSII
BGSF	-0.25	-0.31	0.54	-0.54	0.75	-0.28	0.12	0.68		-0.49	BGSF
HSON	0.67	0.63	-0.15	0.67	-0.17	0.51	0.57	-0.16	-0.49		HSON
	RHI	MAN	UPWK	NSP	KFY	KFRC	KELYA	HSII	BGSF	HSON

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.95	RHI
HSII	+ 0.95	KFY
KFRC	+ 0.92	MAN
KFRC	+ 0.92	NSP
KFRC	+ 0.9	RHI
NSP	+ 0.88	MAN

High negative correlations

NSP	- 0.57	UPWK
BGSF	- 0.54	NSP
KFRC	- 0.5	UPWK
HSON	- 0.49	BGSF
UPWK	- 0.46	MAN
BGSF	- 0.31	MAN

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
RHI	1.95	(0.36)	0.00	(0.25)	0.00	0.00	3.28	(5.01)	16.93
MAN	2.40	(0.55)	0.00	(0.37)	0.00	0.00	6.74	(5.95)	27.59
UPWK	2.05	0.06	0.02	0.06	2.46	(2.27)	3.08	(4.42)	23.16
NSP	1.70	(0.55)	0.00	(0.65)	0.00	0.00	2.68	(4.08)	21.55
KFY	1.39	0.09	0.04	0.11	1.81	(1.50)	2.98	(3.10)	9.66
KFRC	1.77	(0.31)	0.00	(0.38)	0.00	0.00	4.42	(3.75)	20.04
KELYA	1.74	(0.17)	0.00	(0.19)	0.00	0.00	3.00	(3.61)	14.04
HSII	1.29	0.01	0.01	0.03	1.98	(1.25)	3.76	(2.17)	12.15
BGSF	3.83	0.85	0.21	1.46	3.29	(5.02)	11.18	(5.39)	30.94
HSON	2.14	(0.32)	0.00	(1.19)	0.00	0.00	5.34	(5.43)	21.03

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

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC