TrueBlue Correlations

TBI Stock

USD 4.57 0.08 1.72%

The current 90-days correlation between TrueBlue and Tema Electrification ETF is 0.15 (i.e., Average 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

Significant diversification

The correlation between TrueBlue and DJI is 0.09 (i.e., Significant 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 signals in bureau of labor statistics.

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

Moving together with TrueBlue Stock

0.79	FA	First Advantage Corp	Pair Corr
0.72	HIT	Hitech Group Australia	Pair Corr
0.85	ADP	Automatic Data Processing	Pair Corr
0.83	FVRR	Fiverr International	Pair Corr
0.61	JOB	GEE Group	Pair Corr
0.83	KFY	Korn Ferry	Pair Corr
0.8	MAN	ManpowerGroup	Pair Corr
0.63	MHH	Mastech Holdings	Pair Corr
0.8	NSP	Insperity	Pair Corr
0.81	RHI	Robert Half International	Pair Corr
0.87	KELYB	Kelly Services B	Pair Corr
0.83	KELYA	Kelly Services A	Pair Corr
0.64	GLXG	Galaxy Payroll Group	Pair Corr
0.82	SEK	Seek	Pair Corr
0.8	QUESS	Quess Corp Limited	Pair Corr
0.76	TEAMLEASE	Teamlease Services	Pair Corr
0.76	PAYX	Paychex	Pair Corr

Moving against TrueBlue Stock

0.73	HSII	Heidrick Struggles	Pair Corr
0.62	DLHC	DLH Holdings Corp	Pair Corr
0.49	STAF	Staffline Group Plc	Pair Corr
0.44	CGR	CGN Resources	Pair Corr
0.41	PPE	Peoplein	Pair Corr
0.69	ASH	Ashley Services Group	Pair Corr
0.67	SHG	Shinhan Financial	Pair Corr
0.49	CPI	Capita PLC	Pair Corr
0.41	RTC	RTC Group plc	Pair Corr
0.36	VFS	VinFast Auto	Pair Corr

Related Correlations Analysis

	VOLT	FORR	SRFM	MVST	HQI	RGP	HUHU	PEW	TAYD	ONEG
VOLT		-0.64	-0.1	0.91	-0.74	-0.75	0.13	-0.68	-0.57	-0.16	VOLT
FORR	-0.64		0.58	-0.44	0.58	0.68	-0.45	0.8	0.32	0.65	FORR
SRFM	-0.1	0.58		0.16	-0.06	0.09	-0.72	0.49	-0.27	0.78	SRFM
MVST	0.91	-0.44	0.16		-0.75	-0.7	-0.13	-0.55	-0.62	0.06	MVST
HQI	-0.74	0.58	-0.06	-0.75		0.75	0.16	0.58	0.66	0.18	HQI
RGP	-0.75	0.68	0.09	-0.7	0.75		-0.06	0.6	0.59	0.16	RGP
HUHU	0.13	-0.45	-0.72	-0.13	0.16	-0.06		-0.31	0.14	-0.46	HUHU
PEW	-0.68	0.8	0.49	-0.55	0.58	0.6	-0.31		0.35	0.65	PEW
TAYD	-0.57	0.32	-0.27	-0.62	0.66	0.59	0.14	0.35		-0.08	TAYD
ONEG	-0.16	0.65	0.78	0.06	0.18	0.16	-0.46	0.65	-0.08		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

MVST	+ 0.91	VOLT
PEW	+ 0.8	FORR
ONEG	+ 0.78	SRFM
RGP	+ 0.75	HQI
RGP	+ 0.68	FORR
TAYD	+ 0.66	HQI

High negative correlations

HQI	- 0.75	MVST
RGP	- 0.75	VOLT
HQI	- 0.74	VOLT
HUHU	- 0.72	SRFM
RGP	- 0.7	MVST
PEW	- 0.68	VOLT

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	0.91	0.05	0.04	0.10	1.04	(1.05)	1.73	(2.00)	5.38
FORR	2.52	(0.54)	0.00	(0.32)	0.00	0.00	3.74	(5.76)	19.50
SRFM	3.98	(0.99)	0.00	(0.33)	0.00	0.00	6.80	(7.79)	20.95
MVST	4.24	0.50	0.10	0.29	4.47	(4.51)	12.50	(8.87)	31.06
HQI	2.16	(0.12)	0.00	(0.05)	0.00	0.00	4.17	(3.87)	20.59
RGP	2.27	0.03	0.01	0.05	2.57	(2.64)	4.68	(4.21)	11.68
HUHU	4.14	0.64	0.08	0.45	6.83	(4.54)	11.11	(9.45)	46.84
PEW	2.88	(0.50)	0.00	(0.29)	0.00	0.00	5.84	(8.27)	18.53
TAYD	2.75	0.20	0.05	0.41	3.64	(2.89)	5.32	(5.28)	25.04
ONEG	5.85	(2.42)	0.00	(0.65)	0.00	0.00	5.07	(30.46)	66.65

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