JKHY vs PAYX: Correlation
Measured on weekly returns over the past three years, Jack Henry & Associates (JKHY) and Paychex (PAYX) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JKHY and PAYX?
Across a 3-year window, the weekly returns of JKHY and PAYX correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.53, with an annualized covariance of 261.2 %².
In JKHY's tracked universe of 33 assets, PAYX sits right near the top at #3. Over the last 12 months JKHY came out ahead by 10.6 percentage points (+5.8% against -4.8%). Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.62.
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.
JKHY vs PAYX: side by side
| JKHY (Jack Henry & Associates) | PAYX (Paychex) | |
|---|---|---|
| 1-year return | +5.8% | -4.8% |
| 5-year return | +2.6% | +29.0% |
| Volatility (ann.) | 23.0% | 21.3% |
| Beta vs S&P 500 | 0.21 | 0.47 |
| Max drawdown (3Y) | -35.4% | -45.0% |
| Market cap | $12.1B | $45.0B |
| P/E (trailing) | 24.7 | 25.5 |
| Dividend yield | 1.38% | 0.00% |
| Sector / category | Financials | Industrials |
Year-by-year returns
| Year | JKHY | PAYX |
|---|---|---|
| 2022 | +6.2% | -13.2% |
| 2023 | -5.7% | +6.2% |
| 2024 | +8.7% | +21.3% |
| 2025 | +5.5% | -17.5% |
| 2026 | -6.3% | +16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JKHY and PAYX good diversifiers for each other?
To a limited degree. At 0.53 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 JKHY and PAYX?
The JKHY/PAYX correlation stands at 0.53 on a 3-year window (1 year: 0.58, 5 years: 0.53), computed from weekly returns as of 2026-08-27.
Is PAYX a good diversifier for JKHY?
To a limited degree. At 0.53 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 0.53 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
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Related comparisons
Hubs: JKHY correlations · PAYX correlations
