Automatic Data Processing (ADP) — Stock Correlations & Overview
Over the past year, ADP has moved most closely with PAYX, PCTY, EXLS. Explore the stocks most correlated and inversely correlated with ADP below, along with its price, financials, and company profile.
Stocks correlated with ADP
Correlation of daily returns. Higher positive values move with ADP; negative values move opposite it. Informational only, not investment advice.
Most correlated with ADP
| Symbol | Company | Correlation |
|---|---|---|
| PAYX | Paychex IncSERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT | 0.87 |
| PCTY | Paylocity Holding Corporation Common StockSERVICES-PREPACKAGED SOFTWARE | 0.76 |
| EXLS | ExlService Holdings, Inc.SERVICES-BUSINESS SERVICES, NEC | 0.68 |
| MDPL | Monarch Dividend Plus Index ETF | 0.68 |
| TRI | Thomson Reuters Corporation Common Shares | 0.67 |
Most inversely correlated with ADP
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.54 |
| TER | Teradyne, Inc. Common StockINSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS | -0.54 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.52 |
| VOLT | Tema Electrification ETFSERVICES-HELP SUPPLY SERVICES | -0.46 |
| CAT | Caterpillar Inc.CONSTRUCTION MACHINERY & EQUIP | -0.45 |
Frequently asked questions about ADP correlations
- Which stocks are most correlated with ADP?
- Based on one year of daily returns, the stocks most correlated with Automatic Data Processing (ADP) are PAYX (0.87), PCTY (0.76) and EXLS (0.68). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with ADP?
- Over the past year, the stocks most inversely correlated with Automatic Data Processing (ADP) are HDGE (-0.54), TER (-0.54) and DWSH (-0.52). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these ADP correlations calculated?
- We compute the correlation of daily returns between ADP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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