First Advantage Correlations

FA Stock

USD 19.10 0.55 2.96%

The current 90-days correlation between First Advantage Corp and ExlService Holdings is 0.62 (i.e., Poor diversification). The correlation of First Advantage 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.

First Advantage Correlation With Market

Very weak diversification

The correlation between First Advantage Corp and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Advantage Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Advantage Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with First Stock

0.62	CVEO	Civeo Corp	Pair Corr
0.72	CP	Canadian Pacific Railway	Pair Corr

Moving against First Stock

0.64	PYCR	Paycor HCM	Pair Corr
0.55	INOD	Innodata Tech Boost	Pair Corr
0.54	CASS	Cass Information Systems Fiscal Year End 23rd of January 2025	Pair Corr
0.54	DIST	Distoken Acquisition	Pair Corr
0.52	IIIV	i3 Verticals	Pair Corr
0.48	DRVN	Driven Brands Holdings	Pair Corr
0.44	KAR	KAR Auction Services	Pair Corr
0.42	AL	Air Lease	Pair Corr
0.41	TASK	Taskus Inc	Pair Corr
0.38	LICN	Lichen China Limited	Pair Corr
0.37	SPIR	Spire Global Symbol Change	Pair Corr
0.37	B	Barnes Group	Pair Corr
0.35	CSGS	CSG Systems International	Pair Corr
0.33	J	Jacobs Solutions	Pair Corr
0.31	R	Ryder System	Pair Corr
0.66	AZ	A2Z Smart Technologies	Pair Corr
0.55	LZ	LegalZoom	Pair Corr
0.46	HI	Hillenbrand	Pair Corr
0.46	PL	Planet Labs PBC	Pair Corr
0.41	KE	Kimball Electronics	Pair Corr
0.38	BE	Bloom Energy Corp	Pair Corr
0.35	PH	Parker Hannifin	Pair Corr
0.34	CR	Crane Company	Pair Corr
0.32	CW	Curtiss Wright	Pair Corr
0.31	EH	Ehang Holdings	Pair Corr

Related Correlations Analysis

	EXLS	WNS	IT	HCKT	G	CACI	LDOS	PSN	TTEC
EXLS		-0.41	0.76	0.79	0.82	0.44	0.75	0.54	0.16	EXLS
WNS	-0.41		-0.54	0.1	0.03	-0.53	-0.4	-0.65	-0.57	WNS
IT	0.76	-0.54		0.56	0.56	0.59	0.69	0.74	0.2	IT
HCKT	0.79	0.1	0.56		0.93	0.01	0.42	0.13	-0.19	HCKT
G	0.82	0.03	0.56	0.93		0.0	0.41	0.13	-0.14	G
CACI	0.44	-0.53	0.59	0.01	0.0		0.88	0.91	0.48	CACI
LDOS	0.75	-0.4	0.69	0.42	0.41	0.88		0.84	0.33	LDOS
PSN	0.54	-0.65	0.74	0.13	0.13	0.91	0.84		0.51	PSN
TTEC	0.16	-0.57	0.2	-0.19	-0.14	0.48	0.33	0.51		TTEC
	EXLS	WNS	IT	HCKT	G	CACI	LDOS	PSN	TTEC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

G	+ 0.93	HCKT
PSN	+ 0.91	CACI
LDOS	+ 0.88	CACI
PSN	+ 0.84	LDOS
G	+ 0.82	EXLS
HCKT	+ 0.79	EXLS

High negative correlations

PSN	- 0.65	WNS
TTEC	- 0.57	WNS
IT	- 0.54	WNS
CACI	- 0.53	WNS
WNS	- 0.41	EXLS
LDOS	- 0.4	WNS

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Advantage 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 First Advantage'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
EXLS	1.04	0.26	0.31	0.35	0.38	(1.34)	2.56	(1.41)	8.35
WNS	1.64	(0.30)	0.00	(0.20)	0.00	0.00	2.95	(3.12)	13.48
IT	0.80	0.00	0.00	0.12	1.06	(0.75)	1.37	(2.06)	7.23
HCKT	1.36	0.10	0.15	0.18	0.93	(1.74)	2.61	(1.80)	19.63
G	0.98	0.17	0.14	0.32	0.81	(1.12)	2.64	(1.63)	11.64
CACI	1.25	(0.09)	(0.04)	0.01	2.58	(1.08)	2.84	(4.18)	14.84
LDOS	1.22	0.03	0.01	0.16	2.86	(1.18)	2.17	(1.90)	23.10
PSN	1.12	(0.03)	(0.02)	0.09	2.11	(1.08)	2.89	(2.83)	15.20
TTEC	3.79	0.33	0.11	0.34	3.17	(5.12)	7.37	(4.94)	56.54

First Advantage Corporate Management

Scott Staples	CEO Director	Profile
Victor Sachs	Senior Transformation	Profile
Michael Pilnick	Chief Officer	Profile
Joelle Smith	Technology Data	Profile
Steven Marks	Chief Officer	Profile
Ron Douglas	Chief Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC