TriNet Correlations

TNET Stock

USD 92.93 1.13 1.20%

The current 90-days correlation between TriNet Group and ManpowerGroup is 0.29 (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 weak diversification

The correlation between TriNet Group and DJI is 0.57 (i.e., Very weak 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.

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 income.

Moving together with TriNet Stock

0.64	FA	First Advantage Corp	Pair Corr
0.66	WHLM	Wilhelmina	Pair Corr
0.76	ACU	Acme United	Pair Corr
0.69	MLKN	MillerKnoll	Pair Corr

Moving against TriNet Stock

0.48	B	Barnes Group	Pair Corr
0.46	J	Jacobs Solutions	Pair Corr
0.4	DIST	Distoken Acquisition	Pair Corr
0.32	PYCR	Paycor HCM	Pair Corr
0.61	AZ	A2Z Smart Technologies	Pair Corr
0.6	TG	Tredegar	Pair Corr
0.47	NL	NL Industries	Pair Corr
0.45	BW	Babcock Wilcox Enter	Pair Corr
0.4	CW	Curtiss Wright	Pair Corr
0.37	EH	Ehang Holdings	Pair Corr
0.34	LZ	LegalZoom	Pair Corr
0.31	DE	Deere Company	Pair Corr

Related Correlations Analysis

	MAN	KFRC	KELYA	HRT	HSII	BGSF	HSON	HQI	KFY
MAN		0.54	0.71	-0.57	-0.65	0.48	0.21	-0.13	-0.23	MAN
KFRC	0.54		0.2	-0.58	-0.03	-0.21	0.09	0.22	0.16	KFRC
KELYA	0.71	0.2		-0.5	-0.82	0.75	0.25	-0.44	-0.57	KELYA
HRT	-0.57	-0.58	-0.5		0.5	-0.13	-0.33	0.07	0.36	HRT
HSII	-0.65	-0.03	-0.82	0.5		-0.67	-0.3	0.49	0.84	HSII
BGSF	0.48	-0.21	0.75	-0.13	-0.67		0.13	-0.6	-0.52	BGSF
HSON	0.21	0.09	0.25	-0.33	-0.3	0.13		-0.19	-0.26	HSON
HQI	-0.13	0.22	-0.44	0.07	0.49	-0.6	-0.19		0.49	HQI
KFY	-0.23	0.16	-0.57	0.36	0.84	-0.52	-0.26	0.49		KFY
	MAN	KFRC	KELYA	HRT	HSII	BGSF	HSON	HQI	KFY

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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

KFY	+ 0.84	HSII
BGSF	+ 0.75	KELYA
KELYA	+ 0.71	MAN
KFRC	+ 0.54	MAN
HSII	+ 0.5	HRT
HQI	+ 0.49	HSII

High negative correlations

HSII	- 0.82	KELYA
BGSF	- 0.67	HSII
HSII	- 0.65	MAN
HQI	- 0.6	BGSF
HRT	- 0.58	KFRC
KFY	- 0.57	KELYA

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
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
KELYA	1.75	(0.66)	0.00	(0.27)	0.00	0.00	2.89	(4.04)	27.28
HRT	0.11	0.00	(0.61)	(0.26)	0.09	(0.16)	0.21	(0.21)	0.98
HSII	1.54	0.11	0.16	0.17	1.26	(1.80)	3.31	(2.62)	15.55
BGSF	2.08	(0.54)	0.00	(0.66)	0.00	0.00	3.46	(4.31)	27.33
HSON	1.75	(0.33)	0.00	2.28	0.00	0.00	3.70	(4.27)	16.19
HQI	1.99	0.03	0.06	0.13	2.13	(2.14)	5.05	(3.47)	14.14
KFY	1.29	(0.04)	0.02	0.09	1.36	(1.41)	3.56	(2.17)	9.56

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