Automatic Data Correlations

ADP Stock

USD 233.99 0.68 0.29%

The current 90-days correlation between Automatic Data Processing and Parker Hannifin is -0.08 (i.e., Good 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

Modest diversification

The correlation between Automatic Data Processing and DJI is 0.2 (i.e., Modest 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.

Build AI portfolio with Automatic Stock

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 american community survey.

Moving together with Automatic Stock

0.72	FA	First Advantage Corp	Pair Corr
0.88	ADP	Automatic Data Processing	Pair Corr
0.78	PAYX	Paychex	Pair Corr

Moving against Automatic Stock

0.71	CEN	Groupe CRIT SA	Pair Corr
0.51	EPD	Enterprise Products	Pair Corr
0.47	31428XBE5	FEDEX P 475	Pair Corr

Related Correlations Analysis

	PAYX	PH	LMT	GD	TT	MMM	NOC	DE	HON	UPS
PAYX		-0.58	-0.76	-0.5	-0.28	0.47	-0.78	-0.82	-0.77	-0.58	PAYX
PH	-0.58		0.76	0.64	-0.39	-0.36	0.77	0.74	0.76	0.91	PH
LMT	-0.76	0.76		0.76	-0.03	-0.6	0.98	0.89	0.96	0.86	LMT
GD	-0.5	0.64	0.76		-0.2	-0.28	0.8	0.67	0.76	0.68	GD
TT	-0.28	-0.39	-0.03	-0.2		-0.09	-0.01	0.1	0.05	-0.31	TT
MMM	0.47	-0.36	-0.6	-0.28	-0.09		-0.56	-0.44	-0.55	-0.47	MMM
NOC	-0.78	0.77	0.98	0.8	-0.01	-0.56		0.9	0.96	0.84	NOC
DE	-0.82	0.74	0.89	0.67	0.1	-0.44	0.9		0.92	0.8	DE
HON	-0.77	0.76	0.96	0.76	0.05	-0.55	0.96	0.92		0.86	HON
UPS	-0.58	0.91	0.86	0.68	-0.31	-0.47	0.84	0.8	0.86		UPS
	PAYX	PH	LMT	GD	TT	MMM	NOC	DE	HON	UPS

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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

NOC	+ 0.98	LMT
HON	+ 0.96	LMT
HON	+ 0.96	NOC
HON	+ 0.92	DE
UPS	+ 0.91	PH
DE	+ 0.9	NOC

High negative correlations

DE	- 0.82	PAYX
NOC	- 0.78	PAYX
HON	- 0.77	PAYX
LMT	- 0.76	PAYX
MMM	- 0.6	LMT
UPS	- 0.58	PAYX

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
PAYX	1.01	(0.26)	0.00	(0.31)	0.00	0.00	2.32	(3.16)	7.96
PH	1.07	0.31	0.30	0.38	0.67	(1.29)	2.46	(1.57)	9.94
LMT	1.35	0.34	0.16	(3.46)	1.57	(1.48)	2.92	(2.44)	7.74
GD	1.00	0.00	0.00	0.04	1.33	(1.02)	2.00	(2.23)	7.72
TT	1.19	(0.01)	(0.01)	0.02	1.49	(1.20)	2.26	(2.68)	9.37
MMM	1.17	(0.01)	0.00	0.07	0.00	0.00	2.11	(2.10)	9.29
NOC	1.23	0.26	0.15	0.54	1.36	(1.44)	2.91	(1.78)	9.88
DE	1.20	0.29	0.18	0.45	1.26	(1.35)	4.08	(1.84)	7.96
HON	1.05	0.20	0.17	0.24	0.93	(1.19)	2.22	(1.93)	5.31
UPS	1.21	0.28	0.20	0.33	1.12	(1.36)	3.16	(2.42)	7.68

Automatic Data Corporate Management

M Heron	Managing Operations	Profile
David Kwon	Chief VP	Profile
James Sperduto	Retirement Business	Profile
Max Li	Global Officer	Profile
Brock Albinson	Principal Accounting Officer and Corporate Controller	Profile

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