PAYX vs TRI: Correlation
Paychex (PAYX) and Thomson Reuters Corp (TRI) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAYX and TRI?
On 3 years of weekly data the PAYX/TRI correlation comes out at 0.55, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.77 versus 0.55 over 3 years. The 5-year figure is 0.54, and annualized covariance runs at 375.2 %².
By 3-year correlation, TRI places #9 of the 37 assets tracked against PAYX. Correlation aside, the last 12 months split them widely, with PAYX ahead by 32.8 points (-4.8% versus -37.6%). Note the risk asymmetry: TRI runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 TRI: side by side
| PAYX (Paychex) | TRI (Thomson Reuters Corp) | |
|---|---|---|
| 1-year return | -4.8% | -37.6% |
| 5-year return | +29.0% | -0.4% |
| Volatility (ann.) | 21.3% | 32.0% |
| Beta vs S&P 500 | 0.47 | 0.53 |
| Max drawdown (3Y) | -45.0% | -62.9% |
| Market cap | $45.0B | $45.4B |
| P/E (trailing) | 25.5 | 27.6 |
| Dividend yield | 0.00% | 2.48% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PAYX | TRI |
|---|---|---|
| 2022 | -13.2% | -3.0% |
| 2023 | +6.2% | +30.0% |
| 2024 | +21.3% | +11.1% |
| 2025 | -17.5% | -16.6% |
| 2026 | +16.6% | -17.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAYX and TRI good diversifiers for each other?
Only partially. A correlation of 0.55 means PAYX and TRI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PAYX and TRI?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.77 over the last year and 0.54 over 5 years.
Is TRI a good diversifier for PAYX?
Only partially. A correlation of 0.55 means PAYX and TRI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
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: PAYX correlations · TRI correlations
