PAYCOM SOFTWARE, INC. (PAYC) — Stock Correlations & Overview
Over the past year, PAYC has moved most closely with PCTY, PAYX, ADP. Explore the stocks most correlated and inversely correlated with PAYC below, along with its price, financials, and company profile.
Stocks correlated with PAYC
Correlation of daily returns. Higher positive values move with PAYC; negative values move opposite it. Informational only, not investment advice.
Most correlated with PAYC
| Symbol | Company | Correlation |
|---|---|---|
| PCTY | Paylocity Holding Corporation Common StockSERVICES-PREPACKAGED SOFTWARE | 0.73 |
| PAYX | Paychex IncSERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT | 0.70 |
| ADP | Automatic Data ProcessingSERVICES-COMPUTER PROCESSING & DATA PREPARATION | 0.66 |
| WDAY | Workday, Inc. Class A Common StockSERVICES-COMPUTER PROCESSING & DATA PREPARATION | 0.63 |
| PTC | PTC, INCSERVICES-PREPACKAGED SOFTWARE | 0.62 |
Most inversely correlated with PAYC
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.50 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.46 |
| MKSI | MKS Inc. Common StockINDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL | -0.38 |
| WDC | Western Digital Corp.COMPUTER STORAGE DEVICES | -0.37 |
| VOLT | Tema Electrification ETFSERVICES-HELP SUPPLY SERVICES | -0.37 |
Frequently asked questions about PAYC correlations
- Which stocks are most correlated with PAYC?
- Based on one year of daily returns, the stocks most correlated with PAYCOM SOFTWARE, INC. (PAYC) are PCTY (0.73), PAYX (0.70) and ADP (0.66). 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 PAYC?
- Over the past year, the stocks most inversely correlated with PAYCOM SOFTWARE, INC. (PAYC) are HDGE (-0.50), DWSH (-0.46) and MKSI (-0.38). 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 PAYC correlations calculated?
- We compute the correlation of daily returns between PAYC 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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