Looking to balance out your exposure to PAYX? The ETFs below have the lowest correlation with PAYX — they tend to move on their own, which can help reduce risk when PAYX drops. The stock ideas table highlights individual companies that behave independently from PAYX.
Best Diversifiers for PAYX
5 ETFs have low correlation with PAYX (below 0.3), 1 of which are negatively correlated. The least correlated is Schwab International Equity ETF (SCHF) (Foreign Large Cap Equities) with a 1Y correlation of -0.03, down from 0.37 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Schwab International Equity ETF | -0.03 | 0.19 | 0.37 | 61 | Foreign Large Cap Equities | PAYX vs SCHF | |
| State Street SPDR S&P 500 ETF | 0.03 | 0.29 | 0.51 | 65 | S&P 500 | PAYX vs SPY | |
| Vanguard S&P 500 ETF | 0.03 | 0.29 | 0.51 | 66 | S&P 500 | PAYX vs VOO | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.08 | -0.00 | -0.01 | 100 | Government Bonds, Ultrashort Bond | PAYX vs BIL | |
| iShares 0-3 Month Treasury Bond ETF | 0.16 | 0.06 | 0.00 | 100 | Ultrashort Bond | PAYX vs SGOV |
Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from PAYX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PAYX and solid risk/return profiles. The least correlated is Comfort Systems USA, Inc. (FIX) (Industrials) with a 1Y correlation of -0.36, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Comfort Systems USA, Inc. | -0.36 | 0.01 | 0.22 | 97 | Industrials | |
| Western Digital Corporation | -0.35 | -0.09 | 0.14 | 99 | Technology | |
| GE Vernova Inc. | -0.31 | -0.07 | -0.07 | 86 | Industrials | |
| Lam Research Corporation | -0.31 | -0.01 | 0.21 | 97 | Technology | |
| Seagate Technology plc | -0.31 | -0.01 | 0.20 | 98 | Technology |
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