FDS vs PAYX: Correlation
Measured on weekly returns over the past three years, FactSet (FDS) and Paychex (PAYX) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDS and PAYX?
On 3 years of weekly data the FDS/PAYX correlation comes out at 0.55, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.68 versus 0.55 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 374.5 %².
Among the 32 assets we track against FDS, PAYX ranks #10 by 3-year correlation. Over the last 12 months PAYX came out ahead by 13.8 percentage points (-18.6% against -4.8%). On a rolling one-year basis the correlation drifted between 0.28 and 0.68, a moderate band.
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.
FDS vs PAYX: side by side
| FDS (FactSet) | PAYX (Paychex) | |
|---|---|---|
| 1-year return | -18.6% | -4.8% |
| 5-year return | -15.8% | +29.0% |
| Volatility (ann.) | 31.9% | 21.3% |
| Beta vs S&P 500 | 0.56 | 0.47 |
| Max drawdown (3Y) | -61.1% | -45.0% |
| Market cap | $10.8B | $45.0B |
| P/E (trailing) | 19.5 | 25.5 |
| Dividend yield | 1.51% | 0.00% |
| Sector / category | Financials | Industrials |
Year-by-year returns
| Year | FDS | PAYX |
|---|---|---|
| 2022 | -16.7% | -13.2% |
| 2023 | +20.0% | +6.2% |
| 2024 | +1.6% | +21.3% |
| 2025 | -38.9% | -17.5% |
| 2026 | +6.0% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDS and PAYX good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FDS and PAYX?
As of 2026-08-27, the correlation of weekly returns between FDS and PAYX is 0.55 over 3 years, 0.68 over 1 year and 0.59 over 5 years.
Is PAYX a good diversifier for FDS?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
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: FDS correlations · PAYX correlations
