FORR vs. ADP

Last updated Jun 4, 2026

FORR (Forrester Research, Inc.) and ADP (Automatic Data Processing, Inc.) are both stocks. Both are in the Industrials sector — FORR in Consulting Services, ADP in Staffing & Employment Services. Over the past 10 years, FORR returned -15.05%/yr vs 12.48%/yr for ADP. At a 0.31 correlation, their price movements are largely independent.

Performance

FORR vs. ADP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Forrester Research, Inc. (FORR) and Automatic Data Processing, Inc. (ADP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FORR achieves a -14.90% return, which is significantly lower than ADP's -10.73% return. Over the past 10 years, FORR has underperformed ADP with an annualized return of -15.05%, while ADP has yielded a comparatively higher 12.48% annualized return.

FORR

• 1D: -1.85%
• 1M: 11.09%
• YTD: -14.90%
• 6M: -2.54%
• 1Y: -33.37%
• 3Y*: -38.80%
• 5Y*: -30.03%
• 10Y*: -15.05%

ADP

• 1D: -1.48%
• 1M: 7.77%
• YTD: -10.73%
• 6M: -11.18%
• 1Y: -28.50%
• 3Y*: 4.06%
• 5Y*: 5.09%
• 10Y*: 12.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FORR vs. ADP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FORR Forrester Research, Inc.	-14.90%	-48.18%	-41.55%	-25.03%	-39.11%	40.17%	0.48%	-6.71%	2.99%	5.33%
ADP Automatic Data Processing, Inc.	-10.73%	-10.18%	28.41%	-0.25%	-1.29%	42.60%	5.86%	32.71%	14.25%	16.54%

Correlation

The correlation between FORR and ADP is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Nov 29, 1996	0.31

Fundamentals

Market Cap FORR : $131.78M ADP : $91.62B
EPS FORR : -$2.82 ADP : $10.72
PS Ratio FORR : 0.34 ADP : 4.27
PB Ratio FORR : 1.24 ADP : 14.43
Total Revenue (TTM) FORR : $392.47M ADP : $21.60B
Gross Profit (TTM) FORR : $212.00M ADP : $10.26B
EBITDA (TTM) FORR : $15.35M ADP : $6.51B

Return for Risk

FORR vs. ADP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FORR

FORR Risk / Return Rank: 17
FORR Sharpe Ratio Rank: 14
FORR Sortino Ratio Rank: 16
FORR Omega Ratio Rank: 16
FORR Calmar Ratio Rank: 19
FORR Martin Ratio Rank: 19

ADP

ADP Risk / Return Rank: 7
ADP Sharpe Ratio Rank: 2
ADP Sortino Ratio Rank: 4
ADP Omega Ratio Rank: 5
ADP Calmar Ratio Rank: 15
ADP Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FORR vs. ADP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Forrester Research, Inc. (FORR) and Automatic Data Processing, Inc. (ADP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FORR	ADP	Difference
Sharpe ratio Return per unit of total volatility	-0.65	-1.18	+0.53
Sortino ratio Return per unit of downside risk	-0.71	-1.71	+1.00
Omega ratio Gain probability vs. loss probability	0.91	0.80	+0.12
Calmar ratio Return relative to maximum drawdown	-0.61	-0.70	+0.09
Martin ratio Return relative to average drawdown	-1.05	-1.26	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FORR vs. ADP - Sharpe Ratio Comparison

The current FORR Sharpe Ratio is -0.65, which is higher than the ADP Sharpe Ratio of -1.18. The chart below compares the historical Sharpe Ratios of FORR and ADP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FORR	ADP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.65	-1.18	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.74	0.23	-0.98
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.38	0.51	-0.89
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.54	-0.56

Drawdowns

FORR vs. ADP - Drawdown Comparison

The maximum FORR drawdown since its inception was -92.02%, which is greater than ADP's maximum drawdown of -59.51%. Use the drawdown chart below to compare losses from any high point for FORR and ADP.

Drawdown Indicators

	FORR	ADP	Difference
Max Drawdown Largest peak-to-trough decline	-92.02%	-59.51%	-32.51%
Max Drawdown (1Y) Largest decline over 1 year	-55.03%	-40.78%	-14.25%
Max Drawdown (3Y) Largest decline over 3 years	-84.44%	-40.78%	-43.66%
Max Drawdown (5Y) Largest decline over 5 years	-91.68%	-40.78%	-50.90%
Max Drawdown (10Y) Largest decline over 10 years	-91.68%	-40.78%	-50.90%
Current Drawdown Current decline from peak	-89.08%	-28.56%	-60.52%
Average Drawdown Average peak-to-trough decline	-51.95%	-12.59%	-39.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.83%	22.68%	+9.15%

Volatility

FORR vs. ADP - Volatility Comparison

Forrester Research, Inc. (FORR) has a higher volatility of 13.25% compared to Automatic Data Processing, Inc. (ADP) at 9.79%. This indicates that FORR's price experiences larger fluctuations and is considered to be riskier than ADP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FORR	ADP	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.25%	9.79%	+3.46%
Volatility (6M) Calculated over the trailing 6-month period	35.45%	20.37%	+15.08%
Volatility (1Y) Calculated over the trailing 1-year period	51.82%	24.21%	+27.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.54%	22.04%	+18.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.86%	24.47%	+15.39%

Dividends

FORR vs. ADP - Dividend Comparison

FORR has not paid dividends to shareholders, while ADP's dividend yield for the trailing twelve months is around 2.85%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADP Automatic Data Processing, Inc.	2.85%	2.46%	1.96%	2.21%	1.83%	1.55%	2.08%	1.92%	2.14%	2.00%	2.10%	2.36%
FORR Forrester Research, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.79%	2.15%	1.68%	2.39%

Financials

FORR vs. ADP - Profitability Comparison

The chart below illustrates the profitability comparison between Forrester Research, Inc. and Automatic Data Processing, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

FORR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Forrester Research, Inc. reported a gross profit of 43.30M and revenue of 85.45M. Therefore, the gross margin over that period was 50.7%.

ADP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Automatic Data Processing, Inc. reported a gross profit of 2.87B and revenue of 5.94B. Therefore, the gross margin over that period was 48.3%.

FORR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Forrester Research, Inc. reported an operating income of -5.68M and revenue of 85.45M, resulting in an operating margin of -6.7%.

ADP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Automatic Data Processing, Inc. reported an operating income of 1.79B and revenue of 5.94B, resulting in an operating margin of 30.1%.

FORR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Forrester Research, Inc. reported a net income of -21.83M and revenue of 85.45M, resulting in a net margin of -25.5%.

ADP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Automatic Data Processing, Inc. reported a net income of 1.36B and revenue of 5.94B, resulting in a net margin of 22.9%.

Frequently Asked Questions

Can I hold both FORR and ADP in my portfolio?

FORR and ADP have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FORR or ADP?

FORR has higher volatility (13.25%) compared to ADP (9.79%). In terms of maximum drawdown, FORR dropped -92.02% vs ADP's -59.51%.

Which has better risk-adjusted returns?

FORR currently has the higher Sharpe Ratio (-0.65 vs -1.18), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.