PAYX vs ROP: Correlation
How closely do Paychex (PAYX) and Roper Technologies (ROP) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYX and ROP?
Over the past 3 years, PAYX and ROP moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.68 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 273.2 %².
Few assets follow PAYX as closely as ROP, which ranks #3 of 37 tracked partners. The trailing year gives PAYX the advantage: -4.8% versus -19.3%, a 14.5-point spread. On a rolling one-year basis the correlation drifted between 0.37 and 0.75, 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.
PAYX vs ROP: side by side
| PAYX (Paychex) | ROP (Roper Technologies) | |
|---|---|---|
| 1-year return | -4.8% | -19.3% |
| 5-year return | +29.0% | -9.6% |
| Volatility (ann.) | 21.3% | 20.5% |
| Beta vs S&P 500 | 0.47 | 0.55 |
| Max drawdown (3Y) | -45.0% | -46.5% |
| Market cap | $45.0B | $41.8B |
| P/E (trailing) | 25.5 | 17.6 |
| Dividend yield | 0.00% | 0.86% |
| Sector / category | Industrials | Information Technology |
Year-by-year returns
| Year | PAYX | ROP |
|---|---|---|
| 2022 | -13.2% | -11.6% |
| 2023 | +6.2% | +26.9% |
| 2024 | +21.3% | -4.1% |
| 2025 | -17.5% | -13.8% |
| 2026 | +16.6% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAYX and ROP good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PAYX and ROP?
As of 2026-08-27, the correlation of weekly returns between PAYX and ROP is 0.62 over 3 years, 0.68 over 1 year and 0.66 over 5 years.
Is ROP a good diversifier for PAYX?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/payx-vs-rop.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/payx-vs-rop/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAYX correlations · ROP correlations
