EFX vs PAYX: Correlation
How closely do Equifax (EFX) and Paychex (PAYX) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFX and PAYX?
Over the past 3 years, EFX and PAYX moved with a correlation of 0.54, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.67 versus 0.54 over 3 years. Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 382.4 %².
Within EFX's tracked universe of 53 assets, PAYX comes in at #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PAYX outperformed by 17.0 percentage points (-21.8% for EFX against -4.8% for PAYX). The rolling one-year correlation moved between 0.37 and 0.67 over the past three years, a moderate range. Note the risk asymmetry: EFX runs 1.6 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.
EFX vs PAYX: side by side
| EFX (Equifax) | PAYX (Paychex) | |
|---|---|---|
| 1-year return | -21.8% | -4.8% |
| 5-year return | -26.0% | +29.0% |
| Volatility (ann.) | 33.3% | 21.3% |
| Beta vs S&P 500 | 1.25 | 0.47 |
| Max drawdown (3Y) | -49.7% | -45.0% |
| Market cap | $22.4B | $45.0B |
| P/E (trailing) | 33.5 | 25.5 |
| Dividend yield | 1.11% | 0.00% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | EFX | PAYX |
|---|---|---|
| 2022 | -33.1% | -13.2% |
| 2023 | +28.2% | +6.2% |
| 2024 | +3.7% | +21.3% |
| 2025 | -14.2% | -17.5% |
| 2026 | -11.7% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFX and PAYX good diversifiers for each other?
Only partially. A correlation of 0.54 means EFX and PAYX 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 EFX and PAYX?
The EFX/PAYX correlation stands at 0.54 on a 3-year window (1 year: 0.67, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is PAYX a good diversifier for EFX?
Only partially. A correlation of 0.54 means EFX and PAYX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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.
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Related comparisons
Hubs: EFX correlations · PAYX correlations
