HR Block Correlations

HRB Stock

EUR 35.40 0.20 0.56%

The current 90-days correlation between HR Block and Service International is 0.32 (i.e., Weak diversification). The correlation of HR Block 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.

HR Block Correlation With Market

Good diversification

The correlation between HR Block and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HR Block and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HR Block could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HR Block when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back HR Block - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling HR Block to buy it.

Moving together with HRB Stock

0.69	SVC	Service International	Pair Corr
0.69	3I5	Frontdoor	Pair Corr
0.66	E3G	Evolution Gaming	Pair Corr
0.85	1M4	Sportradar Group	Pair Corr
0.66	VRQ	VERGNET Split	Pair Corr

Moving against HRB Stock

0.67	74F	LIFE BANC SPLIT	Pair Corr
0.61	3YT	BOYD GROUP SERVICES	Pair Corr
0.59	RFC4	COPAUR MINERALS INC	Pair Corr
0.33	0KJ	ABERFORTH SMCOS TRLS Earnings Call This Week	Pair Corr
0.79	MKO	Capri Holdings	Pair Corr
0.76	0Q2	Q2 Holdings	Pair Corr
0.76	S9L	FERRAGAMO	Pair Corr
0.72	DPU0	DPM Metals	Pair Corr
0.6	CUW	Columbia Sportswear	Pair Corr
0.57	6F1	Five Below	Pair Corr
0.49	2UK	OSB GROUP PLC	Pair Corr
0.45	REPA	Repsol SA	Pair Corr
0.42	FTP	FIRST TRACTOR H	Pair Corr
0.4	WI1	Winnebago Industries	Pair Corr
0.34	HY9H	SK hynix Earnings Call Today	Pair Corr
0.32	HEG0	Goldsky Resources Corp Split	Pair Corr
0.88	7NX	NEXON	Pair Corr
0.8	MBG	Mercedes Benz Group	Pair Corr
0.77	1KG	Kainos Group plc	Pair Corr
0.73	AIX2	AIXTRON SE	Pair Corr
0.65	KI8	KAP INDUS	Pair Corr
0.63	HCL	Hecla Mining	Pair Corr

Related Correlations Analysis

	SVC	BHA	HRB	3YT	3I5	4C9	JTH	CWC
SVC		-0.1	0.69	-0.49	0.61	0.4	-0.17	0.01	SVC
BHA	-0.1		0.0	0.18	0.01	-0.14	0.2	-0.02	BHA
HRB	0.69	0.0		-0.61	0.69	0.38	-0.28	-0.13	HRB
3YT	-0.49	0.18	-0.61		-0.33	-0.24	0.21	0.04	3YT
3I5	0.61	0.01	0.69	-0.33		0.76	-0.06	0.46	3I5
4C9	0.4	-0.14	0.38	-0.24	0.76		-0.05	0.72	4C9
JTH	-0.17	0.2	-0.28	0.21	-0.06	-0.05		0.18	JTH
CWC	0.01	-0.02	-0.13	0.04	0.46	0.72	0.18		CWC
	SVC	BHA	HRB	3YT	3I5	4C9	JTH	CWC

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

4C9	+ 0.76	3I5
CWC	+ 0.72	4C9
HRB	+ 0.69	SVC
3I5	+ 0.69	HRB
3I5	+ 0.61	SVC
CWC	+ 0.46	3I5

High negative correlations

3YT	- 0.61	HRB
3YT	- 0.49	SVC
3I5	- 0.33	3YT
JTH	- 0.28	HRB
4C9	- 0.24	3YT
JTH	- 0.17	SVC

Risk-Adjusted Indicators

There is a big difference between HRB Stock performing well and HR Block 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 HR Block'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
SVC	0.80	0.04	(0.04)	(0.14)	0.96	(0.89)	1.83	(1.76)	7.20
BHA	1.73	0.02	0.00	0.03	0.00	0.00	4.32	(3.64)	14.72
HRB	1.53	(0.27)	0.00	2.88	0.00	0.00	2.33	(3.46)	7.96
3YT	1.10	0.11	0.01	(0.18)	1.27	(1.61)	2.88	(2.25)	9.16
3I5	1.72	(0.11)	0.00	3.64	0.00	0.00	2.71	(2.86)	20.62
4C9	1.62	0.02	(0.02)	2.92	2.01	(2.17)	3.52	(3.36)	17.22
JTH	2.00	0.31	0.04	(1.54)	2.33	(6.90)	8.93	(6.20)	22.02
CWC	0.81	0.03	(0.04)	(0.84)	0.84	(0.96)	1.59	(1.66)	4.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in HR Block without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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