Correlation Analysis Between GEE and ManpowerGroup

Analyzing existing cross correlation between GEE Group and ManpowerGroup. You can compare the effects of market volatilities on GEE and ManpowerGroup and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in GEE with a short position of ManpowerGroup. See also your portfolio center. Please also check ongoing floating volatility patterns of GEE and ManpowerGroup.
Horizon     30 Days    Login   to change
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Comparative Performance

GEE Group  
00

Risk-Adjusted Performance

Over the last 30 days GEE Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain somewhat strong which may send shares a bit higher in February 2020. The current disturbance may also be a sign of long term up-swing for the company investors.
ManpowerGroup  
1313

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ManpowerGroup are ranked lower than 13 (%) of all global equities and portfolios over the last 30 days. Allthough quite weak forward indicators, ManpowerGroup may actually be approaching a critical reversion point that can send shares even higher in February 2020.

GEE and ManpowerGroup Volatility Contrast

 Predicted Return Density 
    
  Returns 

GEE Group Inc  vs.  ManpowerGroup

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, GEE Group is expected to under-perform the ManpowerGroup. In addition to that, GEE is 8.05 times more volatile than ManpowerGroup. It trades about -0.15 of its total potential returns per unit of risk. ManpowerGroup is currently generating about 0.2 per unit of volatility. If you would invest  8,955  in ManpowerGroup on December 18, 2019 and sell it today you would earn a total of  910.00  from holding ManpowerGroup or generate 10.16% return on investment over 30 days.

Pair Corralation between GEE and ManpowerGroup

-0.76
Time Period3 Months [change]
DirectionNegative 
StrengthWeak
Accuracy98.39%
ValuesDaily Returns

Diversification Opportunities for GEE and ManpowerGroup

GEE Group Inc diversification synergy

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding GEE Group Inc and ManpowerGroup in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ManpowerGroup and GEE is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on GEE Group are associated (or correlated) with ManpowerGroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ManpowerGroup has no effect on the direction of GEE i.e. GEE and ManpowerGroup go up and down completely randomly.
See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.