Paylocity Holdng Correlations

PCTY Stock

USD 147.60 5.29 3.72%

The current 90-days correlation between Paylocity Holdng and Paycor HCM is 0.49 (i.e., Very weak diversification). The correlation of Paylocity Holdng is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Paylocity Holdng Correlation With Market

Modest diversification

The correlation between Paylocity Holdng and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paylocity Holdng and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Paylocity Holdng. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Paylocity Stock please use our How to Invest in Paylocity Holdng guide.

Moving together with Paylocity Stock

0.8	U	Unity Software Aggressive Push	Pair Corr
0.77	BL	Blackline	Pair Corr
0.69	DT	Dynatrace Holdings LLC	Pair Corr
0.67	EB	Eventbrite Class A Earnings Call This Week	Pair Corr
0.8	KC	Kingsoft Cloud Holdings	Pair Corr
0.74	QH	Quhuo	Pair Corr
0.91	WK	Workiva Earnings Call This Week	Pair Corr
0.75	ZM	Zoom Video Communications	Pair Corr
0.68	DMAN	Innovativ Media Group	Pair Corr
0.81	DOCU	DocuSign	Pair Corr
0.77	AMSWA	American Software Tech Boost	Pair Corr
0.68	ELCO	Elcom International	Pair Corr
0.66	ELWS	Earlyworks	Pair Corr
0.77	ENFN	Enfusion	Pair Corr
0.78	WDAY	Workday	Pair Corr

Moving against Paylocity Stock

0.83	DPSI	DecisionPoint Systems	Pair Corr
0.68	AI	C3 Ai Inc	Pair Corr
0.61	VERX	Vertex	Pair Corr
0.45	VS	Versus Systems	Pair Corr
0.37	PD	Pagerduty	Pair Corr
0.84	WKME	Walkme	Pair Corr
0.76	DIDIY	Didi Global ADR	Pair Corr
0.67	WEBB	Web Global Holdings	Pair Corr
0.48	ESTC	Elastic NV	Pair Corr

Related Correlations Analysis

	PYCR	BLKB	CWAN	TYL	PWSC	ALKT	MNTV	AZPN	BSY	SSNC
PYCR		0.36	-0.77	-0.52	-0.92	-0.4	-0.54	0.03	0.61	-0.2	PYCR
BLKB	0.36		0.05	-0.1	-0.39	0.01	-0.21	0.48	0.51	0.26	BLKB
CWAN	-0.77	0.05		0.67	0.74	0.59	0.55	0.12	-0.38	0.51	CWAN
TYL	-0.52	-0.1	0.67		0.64	0.87	0.68	-0.18	-0.54	0.75	TYL
PWSC	-0.92	-0.39	0.74	0.64		0.57	0.49	-0.19	-0.74	0.32	PWSC
ALKT	-0.4	0.01	0.59	0.87	0.57		0.42	-0.29	-0.58	0.77	ALKT
MNTV	-0.54	-0.21	0.55	0.68	0.49	0.42		0.05	-0.36	0.28	MNTV
AZPN	0.03	0.48	0.12	-0.18	-0.19	-0.29	0.05		0.6	-0.28	AZPN
BSY	0.61	0.51	-0.38	-0.54	-0.74	-0.58	-0.36	0.6		-0.31	BSY
SSNC	-0.2	0.26	0.51	0.75	0.32	0.77	0.28	-0.28	-0.31		SSNC
	PYCR	BLKB	CWAN	TYL	PWSC	ALKT	MNTV	AZPN	BSY	SSNC

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ALKT	+ 0.87	TYL
SSNC	+ 0.77	ALKT
SSNC	+ 0.75	TYL
PWSC	+ 0.74	CWAN
MNTV	+ 0.68	TYL
TYL	+ 0.67	CWAN

High negative correlations

PWSC	- 0.92	PYCR
CWAN	- 0.77	PYCR
BSY	- 0.74	PWSC
BSY	- 0.58	ALKT
BSY	- 0.54	TYL
MNTV	- 0.54	PYCR

Risk-Adjusted Indicators

There is a big difference between Paylocity Stock performing well and Paylocity Holdng Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Paylocity Holdng's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PYCR	1.85	(0.41)	0.00	(6.59)	0.00	0.00	2.75	(4.19)	18.78
BLKB	0.82	(0.03)	(0.06)	0.02	0.93	(1.02)	1.84	(1.62)	6.09
CWAN	1.32	0.29	0.16	0.60	1.31	(1.53)	2.85	(2.37)	13.50
TYL	1.06	0.43	0.44	0.63	0.36	(1.33)	1.90	(1.28)	11.95
PWSC	1.07	0.36	0.22	1.33	0.78	(1.21)	3.57	(1.84)	20.46
ALKT	1.98	0.41	0.20	0.43	1.73	(2.41)	4.19	(3.43)	13.40
MNTV	0.90	0.49	2.25	9.05	0.00	(1.77)	0.43	(0.21)	20.63
AZPN	1.61	(0.12)	0.00	(0.02)	0.00	0.00	3.95	(3.35)	10.85
BSY	1.18	(0.23)	0.00	(0.19)	0.00	0.00	2.32	(3.14)	9.01
SSNC	0.85	0.18	0.23	0.24	0.46	(1.02)	1.87	(1.33)	5.46

Paylocity Holdng Corporate Management

Ryan Glenn	CFO Treasurer	Profile
Joshua Scutt	Senior Sales	Profile
Amber Livingston	VP Counsel	Profile
Kathy Ross	VP Operations	Profile
Josh Scutt	VP Sales	Profile

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