Thomson Reuters Correlations

TRI Stock

USD 195.17 0.90 0.46%

The current 90-days correlation between Thomson Reuters and Rentokil Initial PLC is 0.56 (i.e., Very weak diversification). The correlation of Thomson Reuters 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.

Thomson Reuters Correlation With Market

Poor diversification

The correlation between Thomson Reuters and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thomson Reuters and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Thomson Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Thomson Reuters. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

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

Moving together with Thomson Stock

0.78	BV	BrightView Holdings	Pair Corr
0.63	VRSK	Verisk Analytics	Pair Corr
0.66	GFL	Gfl Environmental	Pair Corr
0.71	RBA	RB Global	Pair Corr
0.77	ULS	UL Solutions	Pair Corr
0.79	HCSG	Healthcare Services	Pair Corr
0.7	HDSN	Hudson Technologies	Pair Corr

Moving against Thomson Stock

0.68	MG	Mistras Group	Pair Corr
0.55	VIRC	Virco Manufacturing	Pair Corr
0.43	VCIG	VCI Global Limited	Pair Corr
0.42	WFCF	Where Food Comes	Pair Corr
0.36	FC	Franklin Covey	Pair Corr
0.33	EXPO	Exponent	Pair Corr
0.46	ACCO	Acco Brands	Pair Corr
0.42	RGP	Resources Connection	Pair Corr
0.37	AERTW	Aeries Technology	Pair Corr
0.36	SMX	SMX Public Limited	Pair Corr
0.36	MLKN	MillerKnoll	Pair Corr
0.32	AMBI	Ambipar Emergency	Pair Corr

Related Correlations Analysis

	RTO	CASS	MMS	ARMK	RELX	CTAS	GPN	CPRT	ABM	AZZ
RTO		0.41	0.02	0.52	0.31	0.45	0.28	0.35	0.76	0.74	RTO
CASS	0.41		0.18	0.67	-0.11	0.0	0.72	-0.29	0.62	0.68	CASS
MMS	0.02	0.18		0.63	0.49	0.61	-0.27	0.53	0.32	0.2	MMS
ARMK	0.52	0.67	0.63		0.35	0.54	0.24	0.29	0.77	0.77	ARMK
RELX	0.31	-0.11	0.49	0.35		0.76	-0.63	0.86	0.23	0.15	RELX
CTAS	0.45	0.0	0.61	0.54	0.76		-0.4	0.76	0.54	0.45	CTAS
GPN	0.28	0.72	-0.27	0.24	-0.63	-0.4		-0.65	0.32	0.44	GPN
CPRT	0.35	-0.29	0.53	0.29	0.86	0.76	-0.65		0.22	0.11	CPRT
ABM	0.76	0.62	0.32	0.77	0.23	0.54	0.32	0.22		0.86	ABM
AZZ	0.74	0.68	0.2	0.77	0.15	0.45	0.44	0.11	0.86		AZZ
	RTO	CASS	MMS	ARMK	RELX	CTAS	GPN	CPRT	ABM	AZZ

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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

CPRT	+ 0.86	RELX
AZZ	+ 0.86	ABM
ABM	+ 0.77	ARMK
AZZ	+ 0.77	ARMK
ABM	+ 0.76	RTO
CTAS	+ 0.76	RELX

High negative correlations

CPRT	- 0.65	GPN
GPN	- 0.63	RELX
GPN	- 0.4	CTAS
CPRT	- 0.29	CASS
GPN	- 0.27	MMS
RELX	- 0.11	CASS

Risk-Adjusted Indicators

There is a big difference between Thomson Stock performing well and Thomson Reuters 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 Thomson Reuters' 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
RTO	1.74	(0.09)	0.00	(0.19)	0.00	0.00	3.55	(5.14)	13.50
CASS	1.11	(0.02)	0.00	(0.12)	0.00	0.00	1.81	(2.61)	9.13
MMS	1.37	0.18	0.16	0.29	1.32	(1.60)	3.57	(2.28)	14.65
ARMK	1.69	0.20	0.08	0.09	2.12	(1.85)	3.20	(3.25)	15.20
RELX	1.23	0.20	0.11	0.25	2.05	(1.20)	2.04	(2.93)	10.89
CTAS	1.29	0.13	0.14	(1.40)	1.60	(1.48)	2.19	(2.21)	12.91
GPN	2.19	(0.30)	0.00	(0.27)	0.00	0.00	3.12	(6.65)	31.00
CPRT	1.17	0.11	0.08	0.05	1.43	(1.15)	2.61	(2.54)	10.05
ABM	1.58	0.08	0.03	0.00	2.49	(1.63)	3.92	(3.62)	13.60
AZZ	1.82	(0.06)	0.00	7.78	0.00	0.00	4.00	(4.17)	15.56

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