ADP vs TNET: Correlation
Measured on weekly returns over the past three years, Automatic Data Processing (ADP) and TriNet Group, Inc. (TNET) carry a correlation of 0.60, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADP and TNET?
Across a 3-year window, the weekly returns of ADP and TNET correlate at 0.60, strong. The link has tightened recently: the 1-year correlation (0.76) runs above the 3-year figure (0.60). Stretching to 5 years gives 0.56, with an annualized covariance of 522.6 %².
By 3-year correlation, TNET places #8 of the 43 assets tracked against ADP. Neither side won the trailing year by much: -3.5% against +0.0%. Note the risk asymmetry: TNET runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TNET: side by side
| ADP (Automatic Data Processing) | TNET (TriNet Group, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | +0.0% |
| 5-year return | +52.0% | -20.5% |
| Volatility (ann.) | 21.7% | 40.1% |
| Beta vs S&P 500 | 0.53 | 0.77 |
| Max drawdown (3Y) | -40.8% | -74.0% |
| Market cap | $113.1B | $3.2B |
| P/E (trailing) | 26.0 | 18.6 |
| Dividend yield | 2.36% | 1.61% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ADP | TNET |
|---|---|---|
| 2022 | -1.3% | -28.8% |
| 2023 | -0.2% | +75.4% |
| 2024 | +28.4% | -23.1% |
| 2025 | -10.2% | -33.9% |
| 2026 | +12.4% | +19.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADP and TNET good diversifiers for each other?
Only partially. A correlation of 0.60 means ADP and TNET 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 TNET?
As of 2026-08-27, the correlation of weekly returns between ADP and TNET is 0.60 over 3 years, 0.76 over 1 year and 0.56 over 5 years.
Is TNET a good diversifier for ADP?
Only partially. A correlation of 0.60 means ADP and TNET share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adp-vs-tnet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/adp-vs-tnet/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADP correlations · TNET correlations
