EXLS vs PCTY: Correlation
Measured on weekly returns over the past three years, ExlService Holdings, Inc. (EXLS) and Paylocity Holding Corporation (PCTY) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXLS and PCTY?
On 3 years of weekly data the EXLS/PCTY correlation comes out at 0.56, moderate. The past 12 months show a tighter link (0.76) than the 3-year average (0.56). The 5-year figure is 0.54, and annualized covariance runs at 629.9 %².
Within EXLS's tracked universe of 47 assets, PCTY comes in at #22 by 3-year correlation. Twelve-month performance is nearly a tie, at -13.4% for EXLS and -12.7% for PCTY.
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.
EXLS vs PCTY: side by side
| EXLS (ExlService Holdings, Inc.) | PCTY (Paylocity Holding Corporation) | |
|---|---|---|
| 1-year return | -13.4% | -12.7% |
| 5-year return | +55.2% | -41.2% |
| Volatility (ann.) | 31.7% | 35.4% |
| Beta vs S&P 500 | 0.77 | 0.62 |
| Max drawdown (3Y) | -51.3% | -56.3% |
| Market cap | $5.8B | $8.8B |
| P/E (trailing) | 23.7 | 30.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXLS | PCTY |
|---|---|---|
| 2022 | +17.0% | -17.7% |
| 2023 | -9.0% | -15.1% |
| 2024 | +43.9% | +21.0% |
| 2025 | -4.4% | -23.5% |
| 2026 | -10.0% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXLS and PCTY good diversifiers for each other?
Only partially. A correlation of 0.56 means EXLS and PCTY 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 EXLS and PCTY?
As of 2026-08-27, the correlation of weekly returns between EXLS and PCTY is 0.56 over 3 years, 0.76 over 1 year and 0.54 over 5 years.
Is PCTY a good diversifier for EXLS?
Only partially. A correlation of 0.56 means EXLS and PCTY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 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/exls-vs-pcty.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exls-vs-pcty/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXLS correlations · PCTY correlations
