PAYX vs SSNC: Correlation
How closely do Paychex (PAYX) and SS&C Technologies Holdings, Inc. (SSNC) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYX and SSNC?
Over the past 3 years, PAYX and SSNC moved with a correlation of 0.54, which is moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.54 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 265.5 %².
By 3-year correlation, SSNC places #12 of the 37 assets tracked against PAYX. Twelve-month performance is nearly a tie, at -4.8% for PAYX and -5.4% for SSNC.
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 SSNC: side by side
| PAYX (Paychex) | SSNC (SS&C Technologies Holdings, Inc.) | |
|---|---|---|
| 1-year return | -4.8% | -5.4% |
| 5-year return | +29.0% | +17.5% |
| Volatility (ann.) | 21.3% | 23.0% |
| Beta vs S&P 500 | 0.47 | 0.82 |
| Max drawdown (3Y) | -45.0% | -30.4% |
| Market cap | $45.0B | $19.6B |
| P/E (trailing) | 25.5 | 23.8 |
| Dividend yield | 0.00% | 1.30% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PAYX | SSNC |
|---|---|---|
| 2022 | -13.2% | -35.7% |
| 2023 | +6.2% | +19.2% |
| 2024 | +21.3% | +25.8% |
| 2025 | -17.5% | +16.8% |
| 2026 | +16.6% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAYX and SSNC good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between PAYX and SSNC?
As of 2026-08-27, the correlation of weekly returns between PAYX and SSNC is 0.54 over 3 years, 0.55 over 1 year and 0.58 over 5 years.
Is SSNC a good diversifier for PAYX?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/payx-vs-ssnc.json
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Related comparisons
Hubs: PAYX correlations · SSNC correlations
