CBIZ Correlations

CBZ Stock

USD 80.79 1.36 1.71%

The current 90-days correlation between CBIZ Inc and Civeo Corp is 0.25 (i.e., Modest diversification). The correlation of CBIZ 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.

CBIZ Correlation With Market

Very weak diversification

The correlation between CBIZ Inc and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CBIZ Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CBIZ Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with CBIZ Stock

0.82	G	Genpact Limited	Pair Corr
0.64	KC	Kingsoft Cloud Holdings Trending	Pair Corr
0.8	LZ	LegalZoom	Pair Corr
0.73	SQ	Block Inc	Pair Corr
0.78	WM	Waste Management	Pair Corr
0.83	DRVN	Driven Brands Holdings	Pair Corr
0.63	VIRC	Virco Manufacturing	Pair Corr
0.84	VRSK	Verisk Analytics	Pair Corr
0.78	VSEC	VSE Corporation	Pair Corr
0.72	EEFT	Euronet Worldwide	Pair Corr
0.72	EXLS	ExlService Holdings	Pair Corr
0.81	ABM	ABM Industries Fiscal Year End 11th of December 2024	Pair Corr
0.82	DNB	Dun Bradstreet Holdings	Pair Corr
0.91	KAR	KAR Auction Services	Pair Corr
0.88	RBA	RB Global	Pair Corr

Moving against CBIZ Stock

0.65	MG	Mistras Group	Pair Corr
0.61	VLTO	Veralto	Pair Corr
0.56	FA	First Advantage Corp	Pair Corr
0.56	VCIG	VCI Global Limited	Pair Corr
0.54	FC	Franklin Covey	Pair Corr
0.61	EXPO	Exponent	Pair Corr
0.56	DSS	DSS Inc	Pair Corr
0.65	FCN	FTI Consulting	Pair Corr
0.64	SMX	SMX Public Limited	Pair Corr
0.56	EFX	Equifax	Pair Corr
0.48	MMS	Maximus	Pair Corr
0.44	TRI	Thomson Reuters Corp	Pair Corr

Related Correlations Analysis

	NTIP	CVEO	BV	MMS	FA	CASS	RTO	PFSW	DPUI
NTIP		0.48	-0.65	0.2	0.33	-0.32	0.46	-0.6	-0.05	NTIP
CVEO	0.48		-0.39	0.65	0.62	-0.59	0.03	-0.7	0.1	CVEO
BV	-0.65	-0.39		0.01	-0.24	0.66	-0.23	0.59	0.05	BV
MMS	0.2	0.65	0.01		0.52	-0.37	0.12	-0.49	0.04	MMS
FA	0.33	0.62	-0.24	0.52		-0.54	-0.21	-0.66	-0.23	FA
CASS	-0.32	-0.59	0.66	-0.37	-0.54		0.06	0.57	0.03	CASS
RTO	0.46	0.03	-0.23	0.12	-0.21	0.06		-0.21	-0.03	RTO
PFSW	-0.6	-0.7	0.59	-0.49	-0.66	0.57	-0.21		0.17	PFSW
DPUI	-0.05	0.1	0.05	0.04	-0.23	0.03	-0.03	0.17		DPUI
	NTIP	CVEO	BV	MMS	FA	CASS	RTO	PFSW	DPUI

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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

CASS	+ 0.66	BV
MMS	+ 0.65	CVEO
FA	+ 0.62	CVEO
PFSW	+ 0.59	BV
PFSW	+ 0.57	CASS
FA	+ 0.52	MMS

High negative correlations

PFSW	- 0.7	CVEO
PFSW	- 0.66	FA
BV	- 0.65	NTIP
PFSW	- 0.6	NTIP
CASS	- 0.59	CVEO
CASS	- 0.54	FA

Risk-Adjusted Indicators

There is a big difference between CBIZ Stock performing well and CBIZ 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 CBIZ'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
NTIP	1.92	(0.12)	0.00	(0.31)	0.00	0.00	3.88	(4.37)	32.25
CVEO	1.40	(0.23)	0.00	(0.10)	0.00	0.00	2.24	(3.21)	11.81
BV	1.65	(0.05)	0.02	0.09	2.70	(1.90)	3.55	(2.88)	19.91
MMS	1.11	(0.38)	0.00	(0.54)	0.00	0.00	1.76	(2.50)	10.19
FA	1.29	(0.07)	(0.04)	0.05	1.57	(1.39)	2.96	(3.01)	9.66
CASS	1.33	(0.06)	0.01	0.08	1.57	(1.56)	2.97	(2.97)	9.44
RTO	1.59	(0.35)	0.00	(0.47)	0.00	0.00	2.40	(2.69)	22.43
PFSW	2.08	0.27	0.02	(0.32)	2.81	(2.29)	5.84	(5.09)	17.10
DPUI	12.15	1.78	0.05	(0.45)	12.23	(37.88)	33.33	(25.00)	125.00

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