TrueBlue Correlations

TBI Stock

USD 4.55 0.11 2.36%

The current 90-days correlation between TrueBlue and Tema Electrification ETF is -0.16 (i.e., Good diversification). The correlation of TrueBlue 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.

TrueBlue Correlation With Market

Modest diversification

The correlation between TrueBlue and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueBlue and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with TrueBlue Stock

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

For more detail on how to invest in TrueBlue Stock please use our How to Invest in TrueBlue guide.

Moving together with TrueBlue Stock

0.68	FNMFO	Federal National Mortgage	Pair Corr
0.68	MSFT	Microsoft	Pair Corr
0.65	HD	Home Depot	Pair Corr

Moving against TrueBlue Stock

0.77	BCH	Banco De Chile Normal Trading	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.6	BAC	Bank of America Earnings Call This Week	Pair Corr
0.57	XOM	Exxon Mobil Corp	Pair Corr
0.54	CSCO	Cisco Systems	Pair Corr
0.53	KB	KB Financial Group	Pair Corr
0.51	WF	Woori Financial Group	Pair Corr
0.51	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.48	AVAL	Grupo Aval	Pair Corr
0.47	SHG	Shinhan Financial	Pair Corr
0.46	PFE	Pfizer Inc	Pair Corr
0.44	AA	Alcoa Corp	Pair Corr
0.43	VZ	Verizon Communications	Pair Corr
0.43	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	VOLT	FORR	SRFM	MVST	HQI	RGP	HUHU	PEW	TAYD	ONEG
VOLT		0.5	0.63	0.7	-0.11	-0.52	-0.5	0.7	-0.39	0.67	VOLT
FORR	0.5		0.82	0.68	0.09	-0.55	-0.76	0.65	-0.3	0.76	FORR
SRFM	0.63	0.82		0.91	-0.16	-0.78	-0.92	0.87	-0.57	0.91	SRFM
MVST	0.7	0.68	0.91		-0.32	-0.86	-0.85	0.95	-0.75	0.93	MVST
HQI	-0.11	0.09	-0.16	-0.32		0.24	0.21	-0.36	0.62	-0.19	HQI
RGP	-0.52	-0.55	-0.78	-0.86	0.24		0.78	-0.89	0.78	-0.84	RGP
HUHU	-0.5	-0.76	-0.92	-0.85	0.21	0.78		-0.81	0.61	-0.8	HUHU
PEW	0.7	0.65	0.87	0.95	-0.36	-0.89	-0.81		-0.81	0.94	PEW
TAYD	-0.39	-0.3	-0.57	-0.75	0.62	0.78	0.61	-0.81		-0.67	TAYD
ONEG	0.67	0.76	0.91	0.93	-0.19	-0.84	-0.8	0.94	-0.67		ONEG
	VOLT	FORR	SRFM	MVST	HQI	RGP	HUHU	PEW	TAYD	ONEG

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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

PEW	+ 0.95	MVST
ONEG	+ 0.94	PEW
ONEG	+ 0.93	MVST
MVST	+ 0.91	SRFM
ONEG	+ 0.91	SRFM
PEW	+ 0.87	SRFM

High negative correlations

HUHU	- 0.92	SRFM
PEW	- 0.89	RGP
RGP	- 0.86	MVST
HUHU	- 0.85	MVST
ONEG	- 0.84	RGP
TAYD	- 0.81	PEW

Risk-Adjusted Indicators

There is a big difference between TrueBlue Stock performing well and TrueBlue 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 TrueBlue'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
VOLT	0.96	(0.10)	0.00	(0.04)	0.00	0.00	1.74	(2.15)	5.37
FORR	2.32	(0.11)	0.00	(0.08)	0.00	0.00	3.74	(4.40)	16.68
SRFM	4.93	(0.75)	0.00	(0.15)	0.00	0.00	10.58	(8.50)	26.17
MVST	4.11	(0.31)	0.00	(0.10)	0.00	0.00	11.75	(8.91)	31.06
HQI	2.91	0.44	0.14	0.61	2.69	(3.40)	8.40	(4.99)	23.30
RGP	2.24	0.01	0.00	0.09	3.74	(2.17)	4.68	(5.15)	11.85
HUHU	3.78	0.72	0.15	0.51	4.09	(4.43)	11.46	(9.45)	31.09
PEW	2.02	(0.66)	0.00	(0.42)	0.00	0.00	4.13	(5.07)	13.21
TAYD	2.50	0.82	0.18	31.97	3.11	(2.67)	5.41	(4.32)	19.29
ONEG	7.20	(1.81)	0.00	(0.35)	0.00	0.00	13.04	(30.46)	64.37

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