ADP vs CTAS: Correlation
How closely do Automatic Data Processing (ADP) and Cintas (CTAS) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADP and CTAS?
Over the past 3 years, ADP and CTAS moved with a correlation of 0.50, which is moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 249.6 %².
By 3-year correlation, CTAS places #19 of the 43 assets tracked against ADP. Neither side won the trailing year by much: -3.5% against -3.3%. Across three years, the rolling one-year figure varied moderately, from 0.29 to 0.73.
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 CTAS: side by side
| ADP (Automatic Data Processing) | CTAS (Cintas) | |
|---|---|---|
| 1-year return | -3.5% | -3.3% |
| 5-year return | +52.0% | +117.4% |
| Volatility (ann.) | 21.7% | 23.2% |
| Beta vs S&P 500 | 0.53 | 0.71 |
| Max drawdown (3Y) | -40.8% | -27.7% |
| Market cap | $113.1B | $81.7B |
| P/E (trailing) | 26.0 | 41.8 |
| Dividend yield | 2.36% | 0.87% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | ADP | CTAS |
|---|---|---|
| 2022 | -1.3% | +3.0% |
| 2023 | -0.2% | +34.8% |
| 2024 | +28.4% | +22.2% |
| 2025 | -10.2% | +3.8% |
| 2026 | +12.4% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADP and CTAS good diversifiers for each other?
Only partially. A correlation of 0.50 means ADP and CTAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ADP and CTAS?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.46 over the last year and 0.59 over 5 years.
Is CTAS a good diversifier for ADP?
Only partially. A correlation of 0.50 means ADP and CTAS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: ADP correlations · CTAS correlations
