ADP vs SPGI: Correlation
How closely do Automatic Data Processing (ADP) and S&P Global (SPGI) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADP and SPGI?
Across a 3-year window, the weekly returns of ADP and SPGI correlate at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 292.3 %².
Within ADP's tracked universe of 43 assets, SPGI comes in at #14 by 3-year correlation. The trailing year gives ADP the advantage: -3.5% versus -15.6%, a 12.1-point spread. Across three years, the rolling one-year figure varied moderately, from 0.23 to 0.69.
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 SPGI: side by side
| ADP (Automatic Data Processing) | SPGI (S&P Global) | |
|---|---|---|
| 1-year return | -3.5% | -15.6% |
| 5-year return | +52.0% | +8.1% |
| Volatility (ann.) | 21.7% | 24.7% |
| Beta vs S&P 500 | 0.53 | 0.86 |
| Max drawdown (3Y) | -40.8% | -30.5% |
| Market cap | $113.1B | $128.4B |
| P/E (trailing) | 26.0 | 26.6 |
| Dividend yield | 2.36% | 0.88% |
| Sector / category | Industrials | Financials |
Year-by-year returns
| Year | ADP | SPGI |
|---|---|---|
| 2022 | -1.3% | -28.4% |
| 2023 | -0.2% | +32.8% |
| 2024 | +28.4% | +13.9% |
| 2025 | -10.2% | +5.7% |
| 2026 | +12.4% | -11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADP and SPGI good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ADP and SPGI?
The ADP/SPGI correlation stands at 0.55 on a 3-year window (1 year: 0.57, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is SPGI a good diversifier for ADP?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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.
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Related comparisons
Hubs: ADP correlations · SPGI correlations
