TrueBlue Correlations

TBI Stock

USD 7.31 0.07 0.97%

The current 90-days correlation between TrueBlue and Korn Ferry is 0.6 (i.e., Poor diversification). The correlation of TrueBlue 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.

TrueBlue Correlation With Market

Very weak diversification

The correlation between TrueBlue and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueBlue and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TrueBlue. 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.

For more detail on how to invest in TrueBlue Stock please use our How to Invest in TrueBlue guide.

Moving together with TrueBlue Stock

0.63	MMS	Maximus	Pair Corr
0.7	AP	Ampco Pittsburgh	Pair Corr
0.62	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Moving against TrueBlue Stock

0.63	DIST	Distoken Acquisition	Pair Corr
0.5	SPIR	Spire Global Symbol Change	Pair Corr
0.48	INOD	Innodata	Pair Corr
0.41	B	Barnes Group	Pair Corr
0.35	CSGS	CSG Systems International	Pair Corr
0.35	R	Ryder System	Pair Corr
0.31	J	Jacobs Solutions	Pair Corr
0.51	BE	Bloom Energy Corp	Pair Corr
0.5	AZ	A2Z Smart Technologies	Pair Corr
0.43	PH	Parker Hannifin	Pair Corr
0.39	NL	NL Industries	Pair Corr
0.38	IR	Ingersoll Rand	Pair Corr
0.36	CR	Crane Company	Pair Corr
0.32	CW	Curtiss Wright	Pair Corr
0.32	PL	Planet Labs PBC	Pair Corr

Related Correlations Analysis

	KELYA	KFY	HSII	HSON	MAN	KFRC	BBSI	RHI	HRT	KELYB
KELYA		-0.57	-0.82	0.25	0.71	0.2	-0.86	-0.73	-0.5	0.95	KELYA
KFY	-0.57		0.84	-0.26	-0.23	0.16	0.87	0.82	0.36	-0.63	KFY
HSII	-0.82	0.84		-0.3	-0.65	-0.03	0.95	0.91	0.5	-0.87	HSII
HSON	0.25	-0.26	-0.3		0.21	0.09	-0.29	-0.27	-0.33	0.21	HSON
MAN	0.71	-0.23	-0.65	0.21		0.54	-0.58	-0.64	-0.57	0.72	MAN
KFRC	0.2	0.16	-0.03	0.09	0.54		-0.09	-0.28	-0.58	0.11	KFRC
BBSI	-0.86	0.87	0.95	-0.29	-0.58	-0.09		0.9	0.49	-0.88	BBSI
RHI	-0.73	0.82	0.91	-0.27	-0.64	-0.28	0.9		0.62	-0.75	RHI
HRT	-0.5	0.36	0.5	-0.33	-0.57	-0.58	0.49	0.62		-0.44	HRT
KELYB	0.95	-0.63	-0.87	0.21	0.72	0.11	-0.88	-0.75	-0.44		KELYB
	KELYA	KFY	HSII	HSON	MAN	KFRC	BBSI	RHI	HRT	KELYB

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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

KELYB	+ 0.95	KELYA
BBSI	+ 0.95	HSII
RHI	+ 0.91	HSII
RHI	+ 0.9	BBSI
BBSI	+ 0.87	KFY
HSII	+ 0.84	KFY

High negative correlations

KELYB	- 0.88	BBSI
KELYB	- 0.87	HSII
BBSI	- 0.86	KELYA
HSII	- 0.82	KELYA
KELYB	- 0.75	RHI
RHI	- 0.73	KELYA

Risk-Adjusted Indicators

There is a big difference between TrueBlue Stock performing well and TrueBlue 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 TrueBlue'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
KELYA	1.75	(0.66)	0.00	(0.27)	0.00	0.00	2.89	(4.04)	27.28
KFY	1.29	(0.04)	0.02	0.09	1.36	(1.41)	3.56	(2.17)	9.56
HSII	1.54	0.11	0.16	0.17	1.26	(1.80)	3.31	(2.62)	15.55
HSON	1.75	(0.33)	0.00	2.28	0.00	0.00	3.70	(4.27)	16.19
MAN	1.41	(0.34)	0.00	(0.13)	0.00	0.00	2.76	(2.84)	12.95
KFRC	1.32	(0.26)	0.00	(0.11)	0.00	0.00	2.48	(3.03)	9.02
BBSI	1.11	0.13	0.17	0.21	0.75	(1.32)	2.23	(1.71)	9.43
RHI	1.22	0.08	0.12	0.17	1.02	(1.49)	2.24	(2.07)	13.22
HRT	0.11	0.00	(0.61)	(0.26)	0.09	(0.16)	0.21	(0.21)	0.98
KELYB	1.29	(0.39)	0.00	(0.69)	0.00	0.00	2.55	(6.15)	17.93

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