TriNet Correlations

TNET Stock

USD 37.71 1.96 5.48%

The current 90-days correlation between TriNet Group and Robert Half International is 0.24 (i.e., Modest diversification). The correlation of TriNet 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.

TriNet Correlation With Market

Very good diversification

The correlation between TriNet Group and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TriNet Group and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TriNet Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TriNet Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with TriNet Stock

0.85	FA	First Advantage Corp	Pair Corr
0.76	ROF	Kforce Inc	Pair Corr
0.91	BB1	Barrett Business Services	Pair Corr
0.84	1RH	Recruit Holdings	Pair Corr
0.87	ADP	Automatic Data Processing	Pair Corr
0.71	FVRR	Fiverr International	Pair Corr
0.87	KFY	Korn Ferry	Pair Corr
0.64	MHH	Mastech Holdings	Pair Corr
0.93	NSP	Insperity	Pair Corr
0.61	RHI	Robert Half International	Pair Corr
0.76	TBI	TrueBlue	Pair Corr
0.64	6WT	TONGDAO LIEPGR DL	Pair Corr
0.82	SEK	Seek	Pair Corr
0.88	KFY	Korn Ferry	Pair Corr
0.81	3BY3	Brunel International	Pair Corr
0.79	AAD	Amadeus FiRe AG	Pair Corr
0.93	ASF	Insperity	Pair Corr

Moving against TriNet Stock

0.39	STAF	Staffline Group Plc	Pair Corr
0.39	JOB	GEE Group	Pair Corr
0.37	4LU	GEE GROUP INC	Pair Corr
0.33	OSU	STAFFLINE GROUP LS	Pair Corr
0.31	HQI	Hirequest	Pair Corr
0.42	MNZ	GATTACA PLC LS	Pair Corr
0.32	KELYB	Kelly Services B	Pair Corr
0.5	BGK0	BGSF INC DL	Pair Corr

Related Correlations Analysis

	RHI	UNF	CBZ	HURN	KFY	MGRC	ABM	TEX	NSP	RXO
RHI		-0.2	0.22	0.5	0.74	0.13	0.4	-0.12	0.65	0.33	RHI
UNF	-0.2		-0.81	-0.67	-0.5	0.78	0.3	0.93	-0.41	0.46	UNF
CBZ	0.22	-0.81		0.88	0.65	-0.77	-0.37	-0.77	0.63	-0.47	CBZ
HURN	0.5	-0.67	0.88		0.87	-0.45	-0.11	-0.58	0.88	-0.19	HURN
KFY	0.74	-0.5	0.65	0.87		-0.18	0.23	-0.41	0.88	0.11	KFY
MGRC	0.13	0.78	-0.77	-0.45	-0.18		0.6	0.84	-0.16	0.7	MGRC
ABM	0.4	0.3	-0.37	-0.11	0.23	0.6		0.4	0.12	0.84	ABM
TEX	-0.12	0.93	-0.77	-0.58	-0.41	0.84	0.4		-0.32	0.6	TEX
NSP	0.65	-0.41	0.63	0.88	0.88	-0.16	0.12	-0.32		0.02	NSP
RXO	0.33	0.46	-0.47	-0.19	0.11	0.7	0.84	0.6	0.02		RXO
	RHI	UNF	CBZ	HURN	KFY	MGRC	ABM	TEX	NSP	RXO

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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

TEX	+ 0.93	UNF
HURN	+ 0.88	CBZ
NSP	+ 0.88	HURN
NSP	+ 0.88	KFY
KFY	+ 0.87	HURN
TEX	+ 0.84	MGRC

High negative correlations

CBZ	- 0.81	UNF
TEX	- 0.77	CBZ
MGRC	- 0.77	CBZ
HURN	- 0.67	UNF
TEX	- 0.58	HURN
KFY	- 0.5	UNF

Risk-Adjusted Indicators

There is a big difference between TriNet Stock performing well and TriNet 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 TriNet'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
RHI	2.44	(0.11)	0.00	(0.01)	0.00	0.00	4.38	(7.28)	35.77
UNF	1.76	0.53	0.37	0.83	0.93	(2.32)	2.91	(2.34)	19.40
CBZ	2.74	(0.94)	0.00	(0.45)	0.00	0.00	4.18	(9.10)	16.01
HURN	1.82	(0.26)	0.00	(0.23)	0.00	0.00	4.04	(4.33)	15.88
KFY	1.39	(0.11)	0.00	(0.03)	0.00	0.00	2.91	(3.59)	12.19
MGRC	1.39	0.28	0.14	1.74	1.27	(1.71)	3.75	(2.02)	10.26
ABM	1.39	0.03	0.01	0.11	2.57	(1.29)	2.46	(3.05)	15.37
TEX	2.12	0.61	0.32	0.46	1.64	(2.64)	6.44	(3.23)	21.59
NSP	2.87	(0.75)	0.00	(0.24)	0.00	0.00	4.91	(8.28)	23.28
RXO	3.13	0.34	0.10	0.19	4.41	(3.36)	6.95	(5.03)	28.91

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