PAYX vs RSG: Correlation
Paychex (PAYX) and Republic Services (RSG) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYX and RSG?
On 3 years of weekly data the PAYX/RSG correlation comes out at 0.35, moderate. Recent behaviour matches the longer record: 0.25 over 1 year against 0.35 over 3. The 5-year figure is 0.44, and annualized covariance runs at 122.5 %².
Within PAYX's tracked universe of 37 assets, RSG comes in at #24 by 3-year correlation. Neither side won the trailing year by much: -4.8% against -5.6%. The relationship is regime-dependent: the rolling one-year correlation swung between 0.15 and 0.69 over the past three years, so this pair behaves very differently depending on the market environment.
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 RSG: side by side
| PAYX (Paychex) | RSG (Republic Services) | |
|---|---|---|
| 1-year return | -4.8% | -5.6% |
| 5-year return | +29.0% | +87.9% |
| Volatility (ann.) | 21.3% | 16.2% |
| Beta vs S&P 500 | 0.47 | 0.17 |
| Max drawdown (3Y) | -45.0% | -22.5% |
| Market cap | $45.0B | $67.1B |
| P/E (trailing) | 25.5 | 31.0 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | PAYX | RSG |
|---|---|---|
| 2022 | -13.2% | -6.2% |
| 2023 | +6.2% | +29.6% |
| 2024 | +21.3% | +23.0% |
| 2025 | -17.5% | +6.4% |
| 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 RSG good diversifiers for each other?
Reasonably. At 0.35, PAYX and RSG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PAYX and RSG?
As of 2026-08-27, the correlation of weekly returns between PAYX and RSG is 0.35 over 3 years, 0.25 over 1 year and 0.44 over 5 years.
Is RSG a good diversifier for PAYX?
Reasonably. At 0.35, PAYX and RSG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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/payx-vs-rsg.json
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Related comparisons
Hubs: PAYX correlations · RSG correlations
