ADP vs AON: Correlation
Measured on weekly returns over the past three years, Automatic Data Processing (ADP) and Aon plc (AON) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADP and AON?
On 3 years of weekly data the ADP/AON correlation comes out at 0.47, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 223.7 %².
Among the 43 assets we track against ADP, AON ranks #22 by 3-year correlation. Their 12-month results are close: -3.5% for ADP against -4.6% for AON. Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.62.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ADP vs AON: side by side
| ADP (Automatic Data Processing) | AON (Aon plc) | |
|---|---|---|
| 1-year return | -3.5% | -4.6% |
| 5-year return | +52.0% | +27.0% |
| Volatility (ann.) | 21.7% | 21.7% |
| Beta vs S&P 500 | 0.53 | 0.34 |
| Max drawdown (3Y) | -40.8% | -24.2% |
| Market cap | $113.1B | $74.2B |
| P/E (trailing) | 26.0 | 19.5 |
| Dividend yield | 2.36% | 0.86% |
| Sector / category | Industrials | Financials |
Year-by-year returns
| Year | ADP | AON |
|---|---|---|
| 2022 | -1.3% | +0.6% |
| 2023 | -0.2% | -2.3% |
| 2024 | +28.4% | +24.5% |
| 2025 | -10.2% | -1.2% |
| 2026 | +12.4% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADP and AON good diversifiers for each other?
Reasonably. At 0.47, ADP and AON keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADP and AON?
The ADP/AON correlation stands at 0.47 on a 3-year window (1 year: 0.55, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is AON a good diversifier for ADP?
Reasonably. At 0.47, ADP and AON keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adp-vs-aon.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adp-vs-aon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADP correlations · AON correlations
