ADP vs HRB: Correlation
Automatic Data Processing (ADP) and H&R Block, Inc. (HRB) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADP and HRB?
On 3 years of weekly data the ADP/HRB correlation comes out at 0.46, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.46 over 3 years. The 5-year figure is 0.36, and annualized covariance runs at 324.8 %².
By 3-year correlation, HRB places #24 of the 43 assets tracked against ADP. Over the last 12 months HRB came out ahead by 11.1 percentage points (-3.5% against +7.6%). Risk is not evenly split, since HRB carries 1.5 times the volatility of the other side.
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 HRB: side by side
| ADP (Automatic Data Processing) | HRB (H&R Block, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | +7.6% |
| 5-year return | +52.0% | +141.8% |
| Volatility (ann.) | 21.7% | 32.8% |
| Beta vs S&P 500 | 0.53 | 0.31 |
| Max drawdown (3Y) | -40.8% | -55.5% |
| Market cap | $113.1B | $6.5B |
| P/E (trailing) | 26.0 | 9.3 |
| Dividend yield | 2.36% | 3.19% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ADP | HRB |
|---|---|---|
| 2022 | -1.3% | +59.9% |
| 2023 | -0.2% | +36.9% |
| 2024 | +28.4% | +12.0% |
| 2025 | -10.2% | -14.9% |
| 2026 | +12.4% | +23.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADP and HRB good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ADP and HRB?
The ADP/HRB correlation stands at 0.46 on a 3-year window (1 year: 0.60, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is HRB a good diversifier for ADP?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 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
$ curl https://www.pairbook.io/api/v1/pairs/adp-vs-hrb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adp-vs-hrb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADP correlations · HRB correlations
