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
4 ETFs have low correlation with PAYX (below 0.3), 0 of which are negatively correlated. The least correlated is SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) (Government Bonds) with a 1Y correlation of 0.04, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| SPDR Bloomberg 1-3 Month T-Bill ETF | 0.04 | -0.02 | -0.03 | 100 | Government Bonds, Ultrashort Bond | PAYX vs BIL | |
| State Street SPDR S&P 500 ETF | 0.11 | 0.31 | 0.52 | 59 | S&P 500 | PAYX vs SPY | |
| iShares 0-3 Month Treasury Bond ETF | 0.11 | 0.03 | -0.01 | 100 | Ultrashort Bond | PAYX vs SGOV | |
| Vanguard S&P 500 ETF | 0.12 | 0.31 | 0.52 | 59 | S&P 500 | PAYX vs VOO |
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 Seagate Technology plc (STX) (Technology) with a 1Y correlation of -0.27, down from 0.22 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Seagate Technology plc | -0.27 | 0.02 | 0.22 | 99 | Technology | |
| GE Vernova Inc. | -0.26 | -0.06 | -0.06 | 89 | Industrials | |
| Comfort Systems USA, Inc. | -0.26 | 0.04 | 0.25 | 98 | Industrials | |
| Lam Research Corporation | -0.25 | 0.02 | 0.23 | 98 | Technology | |
| Corning Incorporated | -0.22 | 0.10 | 0.28 | 97 | Technology |
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