TriNet Correlations

TNET Stock

USD 57.54 1.35 2.29%

The current 90-days correlation between TriNet Group and Robert Half International is 0.53 (i.e., Very weak 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 0.4 (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.

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 consumer price index.

Moving together with TriNet Stock

0.93	ADP	Automatic Data Processing	Pair Corr
0.88	TBI	TrueBlue	Pair Corr
0.61	NBB	Norman Broadbent Plc	Pair Corr
0.76	EQC	Equity Commonwealth	Pair Corr
0.63	ENRT	Enertopia Corporatio	Pair Corr

Moving against TriNet Stock

0.85	NHIC	NewHold Investment Corp	Pair Corr
0.85	QUILF	Quilter plc	Pair Corr
0.82	FTRS	Futuris Company	Pair Corr
0.8	OBIO	Orchestra BioMed Holdings	Pair Corr
0.77	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.74	FCBBF	FinecoBank Banca Fineco	Pair Corr
0.63	KSANF	Kansai Paint	Pair Corr
0.61	CDIV	Cascadia Investments	Pair Corr
0.58	EXPE	Expedia Group	Pair Corr
0.55	KODK	Eastman Kodak	Pair Corr
0.55	SFRX	Seafarer Exploration	Pair Corr
0.53	DNUT	Krispy Kreme	Pair Corr
0.47	GKOS	Glaukos Corp	Pair Corr
0.33	HAVLF	HAVN Life Sciences	Pair Corr
0.93	PACH	Pioneer Acquisition	Pair Corr
0.86	INCY	Incyte	Pair Corr
0.8	COPL	Copley Acquisition Corp	Pair Corr
0.72	SBKFF	State Bank	Pair Corr
0.71	AAPL	Apple Inc	Pair Corr
0.68	JBHT	JB Hunt Transport	Pair Corr
0.67	DRXGF	Drax Group plc	Pair Corr
0.67	MTC	MMTEC Inc Tech Boost	Pair Corr
0.53	LFST	Lifestance Health	Pair Corr
0.49	BZDLF	Kincora Copper	Pair Corr
0.49	ORHB	ORHub Inc	Pair Corr

Related Correlations Analysis

	RHI	UNF	CBZ	HURN	KFY	MGRC	ABM	TEX	NSP	RXO
RHI		0.15	0.45	-0.77	0.83	0.8	0.64	0.58	0.87	0.49	RHI
UNF	0.15		-0.19	0.33	0.24	-0.01	0.37	0.29	0.0	-0.05	UNF
CBZ	0.45	-0.19		-0.28	0.51	0.55	0.54	0.45	0.59	0.65	CBZ
HURN	-0.77	0.33	-0.28		-0.53	-0.68	-0.27	-0.27	-0.74	-0.42	HURN
KFY	0.83	0.24	0.51	-0.53		0.86	0.79	0.83	0.85	0.66	KFY
MGRC	0.8	-0.01	0.55	-0.68	0.86		0.68	0.76	0.94	0.8	MGRC
ABM	0.64	0.37	0.54	-0.27	0.79	0.68		0.73	0.68	0.65	ABM
TEX	0.58	0.29	0.45	-0.27	0.83	0.76	0.73		0.71	0.72	TEX
NSP	0.87	0.0	0.59	-0.74	0.85	0.94	0.68	0.71		0.78	NSP
RXO	0.49	-0.05	0.65	-0.42	0.66	0.8	0.65	0.72	0.78		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

NSP	+ 0.94	MGRC
NSP	+ 0.87	RHI
MGRC	+ 0.86	KFY
NSP	+ 0.85	KFY
KFY	+ 0.83	RHI
TEX	+ 0.83	KFY

High negative correlations

HURN	- 0.77	RHI
NSP	- 0.74	HURN
MGRC	- 0.68	HURN
KFY	- 0.53	HURN
RXO	- 0.42	HURN
HURN	- 0.28	CBZ

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	1.52	(0.36)	0.00	(0.20)	0.00	0.00	2.48	(3.60)	10.01
UNF	1.62	0.21	0.10	0.28	1.77	(1.74)	2.91	(2.50)	8.47
CBZ	1.55	(0.10)	0.00	(0.03)	0.00	0.00	3.84	(2.65)	7.86
HURN	1.11	0.31	0.22	0.46	0.98	(1.28)	2.39	(2.39)	14.24
KFY	1.08	(0.16)	0.00	(0.11)	0.00	0.00	2.44	(2.09)	7.86
MGRC	1.25	(0.22)	0.00	(0.13)	0.00	0.00	3.33	(1.83)	7.75
ABM	1.26	(0.13)	0.00	(0.09)	0.00	0.00	2.57	(3.94)	15.39
TEX	2.09	0.00	0.02	0.06	3.36	(2.22)	4.18	(3.80)	23.19
NSP	1.98	(0.42)	0.00	(0.19)	0.00	0.00	4.55	(3.06)	20.54
RXO	3.47	(0.41)	0.00	(0.05)	0.00	0.00	6.09	(7.77)	30.62

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