TriNet Correlations

TNET Stock

USD 57.17 1.69 2.87%

The current 90-days correlation between TriNet Group and Robert Half International is 0.49 (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

Weak diversification

The correlation between TriNet Group and DJI is 0.35 (i.e., 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 american community survey.

Moving together with TriNet Stock

0.92	ADP	Automatic Data Processing	Pair Corr
0.85	KELYA	Kelly Services A	Pair Corr
0.64	NBB	Norman Broadbent Plc	Pair Corr

Moving against TriNet Stock

0.78	LCDX	Caliber Imaging Diag	Pair Corr
0.66	DGWPF	Drgerwerk AG	Pair Corr
0.65	NAUFF	NevGold Corp	Pair Corr
0.62	CASXF	Casa Minerals	Pair Corr
0.6	HYMTF	Hyundai Motor	Pair Corr
0.44	NMRD	Nemaura Medical	Pair Corr
0.44	FHELF	First Helium	Pair Corr
0.43	FTV	Fortive Corp	Pair Corr
0.39	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.36	DB	Deutsche Bank AG	Pair Corr

Related Correlations Analysis

	RHI	UNF	CBZ	HURN	KFY	MGRC	ABM	TEX	NSP	RXO
RHI		0.02	0.52	-0.65	0.78	0.74	0.66	0.55	0.83	0.54	RHI
UNF	0.02		-0.22	0.57	0.14	-0.09	0.04	0.42	-0.07	-0.25	UNF
CBZ	0.52	-0.22		-0.3	0.55	0.61	0.54	0.38	0.64	0.65	CBZ
HURN	-0.65	0.57	-0.3		-0.36	-0.56	-0.31	-0.08	-0.62	-0.5	HURN
KFY	0.78	0.14	0.55	-0.36		0.83	0.8	0.83	0.81	0.68	KFY
MGRC	0.74	-0.09	0.61	-0.56	0.83		0.68	0.73	0.92	0.84	MGRC
ABM	0.66	0.04	0.54	-0.31	0.8	0.68		0.57	0.68	0.68	ABM
TEX	0.55	0.42	0.38	-0.08	0.83	0.73	0.57		0.69	0.56	TEX
NSP	0.83	-0.07	0.64	-0.62	0.81	0.92	0.68	0.69		0.83	NSP
RXO	0.54	-0.25	0.65	-0.5	0.68	0.84	0.68	0.56	0.83		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	+ 0.92	MGRC
RXO	+ 0.84	MGRC
NSP	+ 0.83	RHI
MGRC	+ 0.83	KFY
TEX	+ 0.83	KFY
RXO	+ 0.83	NSP

High negative correlations

HURN	- 0.65	RHI
NSP	- 0.62	HURN
MGRC	- 0.56	HURN
RXO	- 0.5	HURN
KFY	- 0.36	HURN
ABM	- 0.31	HURN

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	1.41	(0.36)	0.00	(0.21)	0.00	0.00	2.28	(3.60)	10.01
UNF	1.56	0.20	0.10	0.27	1.76	(1.66)	2.91	(2.48)	17.26
CBZ	1.48	(0.11)	0.00	(0.05)	0.00	0.00	3.84	(3.08)	7.86
HURN	1.14	0.20	0.13	0.31	1.20	(1.26)	2.39	(2.39)	14.24
KFY	1.08	(0.12)	0.00	(0.07)	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	(0.14)	0.00	(0.12)	0.00	0.00	2.57	(3.94)	15.39
TEX	2.11	0.04	0.03	0.07	3.40	(2.27)	4.18	(3.80)	23.19
NSP	1.96	(0.39)	0.00	(0.19)	0.00	0.00	4.55	(3.13)	20.54
RXO	3.32	(0.35)	0.00	(0.04)	0.00	0.00	6.09	(7.77)	30.62

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