Automatic Data Correlations

ADP Stock

USD 306.92 0.00 0.00%

The current 90-days correlation between Automatic Data Processing and ManpowerGroup is 0.28 (i.e., Modest 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

Poor diversification

The correlation between Automatic Data Processing and DJI is 0.62 (i.e., Poor 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.

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 unemployment.

Moving together with Automatic Stock

0.84	NL	NL Industries	Pair Corr
0.9	WM	Waste Management	Pair Corr
0.81	AXR	AMREP	Pair Corr
0.69	DLX	Deluxe	Pair Corr
0.63	HNI	HNI Corp	Pair Corr
0.81	INOD	Innodata Downward Rally	Pair Corr
0.68	ESGLW	ESGL Holdings Limited	Pair Corr
0.69	LICY	LiCycle Holdings Corp	Pair Corr
0.8	PYCR	Paycor HCM	Pair Corr
0.65	SABR	Sabre Corpo	Pair Corr
0.95	CTAS	Cintas	Pair Corr
0.81	B	Barnes Group	Pair Corr
0.83	J	Jacobs Solutions	Pair Corr
0.88	R	Ryder System	Pair Corr
0.88	DIST	Distoken Acquisition	Pair Corr
0.7	AL	Air Lease	Pair Corr
0.89	AZ	A2Z Smart Technologies	Pair Corr
0.79	BV	BrightView Holdings	Pair Corr
0.64	BW	Babcock Wilcox Enter	Pair Corr

Moving against Automatic Stock

0.82	HDSN	Hudson Technologies	Pair Corr
0.7	BCO	Brinks Company	Pair Corr
0.64	MG	Mistras Group	Pair Corr
0.64	CDTG	CDT Environmental	Pair Corr
0.56	CMPR	Cimpress NV	Pair Corr
0.47	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.31	MSA	MSA Safety	Pair Corr
0.82	CP	Canadian Pacific Railway	Pair Corr
0.76	RR	Richtech Robotics Class	Pair Corr
0.74	SB	Safe Bulkers	Pair Corr
0.72	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.47	AP	Ampco Pittsburgh	Pair Corr
0.45	FC	Franklin Covey	Pair Corr
0.41	GP	GreenPower Motor	Pair Corr
0.36	HY	Hyster Yale Materials	Pair Corr
0.35	FA	First Advantage Corp	Pair Corr

Related Correlations Analysis

	RHI	MAN	KFRC	KFY	KELYA	PAYX	TBI	ZIP	BZ
RHI		-0.64	-0.25	0.83	-0.74	0.88	-0.35	0.22	0.15	RHI
MAN	-0.64		0.53	-0.24	0.71	-0.72	0.57	0.15	0.06	MAN
KFRC	-0.25	0.53		0.17	0.18	-0.5	0.55	0.16	-0.55	KFRC
KFY	0.83	-0.24	0.17		-0.59	0.63	-0.06	0.33	0.01	KFY
KELYA	-0.74	0.71	0.18	-0.59		-0.65	0.64	0.12	0.2	KELYA
PAYX	0.88	-0.72	-0.5	0.63	-0.65		-0.41	0.29	0.25	PAYX
TBI	-0.35	0.57	0.55	-0.06	0.64	-0.41		0.45	-0.14	TBI
ZIP	0.22	0.15	0.16	0.33	0.12	0.29	0.45		0.13	ZIP
BZ	0.15	0.06	-0.55	0.01	0.2	0.25	-0.14	0.13		BZ
	RHI	MAN	KFRC	KFY	KELYA	PAYX	TBI	ZIP	BZ

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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

PAYX	+ 0.88	RHI
KFY	+ 0.83	RHI
KELYA	+ 0.71	MAN
TBI	+ 0.64	KELYA
PAYX	+ 0.63	KFY
TBI	+ 0.57	MAN

High negative correlations

KELYA	- 0.74	RHI
PAYX	- 0.72	MAN
PAYX	- 0.65	KELYA
MAN	- 0.64	RHI
KELYA	- 0.59	KFY
BZ	- 0.55	KFRC

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
RHI	1.23	0.04	0.09	0.14	1.05	(1.51)	2.24	(2.07)	13.22
MAN	1.42	(0.36)	0.00	(0.15)	0.00	0.00	2.76	(2.84)	12.95
KFRC	1.31	(0.28)	0.00	(0.13)	0.00	0.00	2.48	(3.03)	9.02
KFY	1.29	(0.05)	0.02	0.09	1.34	(1.40)	3.56	(2.17)	9.56
KELYA	1.75	(0.69)	0.00	(0.29)	0.00	0.00	2.89	(4.04)	27.28
PAYX	0.83	0.07	0.08	0.20	0.54	(1.02)	2.19	(1.46)	8.29
TBI	2.15	(0.41)	0.00	(0.08)	0.00	0.00	4.21	(4.52)	16.74
ZIP	2.19	(0.28)	0.00	(0.06)	0.00	0.00	5.05	(5.35)	18.77
BZ	3.15	(0.23)	0.00	(0.10)	0.00	0.00	7.36	(6.06)	28.38

Automatic Data Corporate Management

M Heron	Managing Operations	Profile
Jonathan Lehberger	Corporate Officer	Profile
David Kwon	Chief VP	Profile
Don McGuire	Chief Officer	Profile
Max Li	Global Officer	Profile

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