Tyler Technologies, Inc. (TYL) — Stock Correlations & Overview
Over the past year, TYL has moved most closely with ADP, TRI, PAYX. Explore the stocks most correlated and inversely correlated with TYL below, along with its price, financials, and company profile.
Stocks correlated with TYL
Correlation of daily returns. Higher positive values move with TYL; negative values move opposite it. Informational only, not investment advice.
Most correlated with TYL
| Symbol | Company | Correlation |
|---|---|---|
| ADP | Automatic Data ProcessingSERVICES-COMPUTER PROCESSING & DATA PREPARATION | 0.65 |
| TRI | Thomson Reuters Corporation Common Shares | 0.63 |
| PAYX | Paychex IncSERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT | 0.62 |
| ADSK | Autodesk IncSERVICES-PREPACKAGED SOFTWARE | 0.61 |
| NCNO | nCino, Inc. Common StockSERVICES-PREPACKAGED SOFTWARE | 0.61 |
Most inversely correlated with TYL
| Symbol | Company | Correlation |
|---|---|---|
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.51 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.50 |
| TER | Teradyne, Inc. Common StockINSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS | -0.41 |
| AEIS | Advanced Energy Industries IncELECTRONIC COMPONENTS, NEC | -0.40 |
| STX | Seagate Technology Holdings PLC Ordinary Shares (Ireland)COMPUTER STORAGE DEVICES | -0.40 |
Frequently asked questions about TYL correlations
- Which stocks are most correlated with TYL?
- Based on one year of daily returns, the stocks most correlated with Tyler Technologies, Inc. (TYL) are ADP (0.65), TRI (0.63) and PAYX (0.62). 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 TYL?
- Over the past year, the stocks most inversely correlated with Tyler Technologies, Inc. (TYL) are HDGE (-0.51), DWSH (-0.50) and TER (-0.41). 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 TYL correlations calculated?
- We compute the correlation of daily returns between TYL 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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