Thomson Reuters Correlations

TRI Stock

USD 162.00 0.77 0.47%

The current 90-days correlation between Thomson Reuters Corp and Rentokil Initial PLC is 0.17 (i.e., Average 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

Weak diversification

The correlation between Thomson Reuters Corp and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thomson Reuters Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Thomson Reuters Corp. 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.

Moving against Thomson Stock

0.34	SQ	Block Inc	Pair Corr
0.34	EEFT	Euronet Worldwide	Pair Corr
0.32	EXLS	ExlService Holdings	Pair Corr
0.52	FOUR	Shift4 Payments	Pair Corr
0.52	FTEK	Fuel Tech	Pair Corr
0.41	AWX	Avalon Holdings	Pair Corr
0.41	GEO	Geo Group	Pair Corr
0.39	CBZ	CBIZ Inc	Pair Corr
0.39	GFL	Gfl Environmental	Pair Corr
0.36	CXW	CoreCivic	Pair Corr

Related Correlations Analysis

	RTO	PFMT	CASS	MMS	ARMK	RELX	CTAS	GPN	CPRT	ABM
RTO		-0.24	0.73	-0.5	0.4	-0.02	0.32	0.72	0.49	0.57	RTO
PFMT	-0.24		-0.37	0.77	-0.66	-0.04	-0.21	-0.55	-0.79	-0.38	PFMT
CASS	0.73	-0.37		-0.49	0.56	0.0	0.63	0.85	0.66	0.85	CASS
MMS	-0.5	0.77	-0.49		-0.47	0.35	0.01	-0.78	-0.85	-0.3	MMS
ARMK	0.4	-0.66	0.56	-0.47		0.35	0.64	0.56	0.69	0.74	ARMK
RELX	-0.02	-0.04	0.0	0.35	0.35		0.3	-0.3	-0.14	0.2	RELX
CTAS	0.32	-0.21	0.63	0.01	0.64	0.3		0.39	0.31	0.84	CTAS
GPN	0.72	-0.55	0.85	-0.78	0.56	-0.3	0.39		0.86	0.68	GPN
CPRT	0.49	-0.79	0.66	-0.85	0.69	-0.14	0.31	0.86		0.57	CPRT
ABM	0.57	-0.38	0.85	-0.3	0.74	0.2	0.84	0.68	0.57		ABM
	RTO	PFMT	CASS	MMS	ARMK	RELX	CTAS	GPN	CPRT	ABM

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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	GPN
GPN	+ 0.85	CASS
ABM	+ 0.85	CASS
ABM	+ 0.84	CTAS
MMS	+ 0.77	PFMT
ABM	+ 0.74	ARMK

High negative correlations

CPRT	- 0.85	MMS
CPRT	- 0.79	PFMT
GPN	- 0.78	MMS
ARMK	- 0.66	PFMT
GPN	- 0.55	PFMT
MMS	- 0.5	RTO

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	1.24	(0.02)	0.00	(0.19)	0.00	0.00	1.94	(2.32)	12.08
PFMT	2.29	(0.06)	0.00	(2.09)	0.00	0.00	4.84	(4.43)	21.95
CASS	1.17	0.03	0.00	0.78	1.55	(1.32)	2.80	(2.71)	11.01
MMS	1.13	(0.36)	0.00	(1.48)	0.00	0.00	1.91	(2.50)	9.73
ARMK	1.22	0.01	0.00	0.04	1.65	(1.24)	2.82	(3.42)	7.75
RELX	0.81	(0.10)	0.00	(0.31)	0.00	0.00	1.77	(1.47)	5.13
CTAS	1.13	(0.17)	0.00	(3.94)	0.00	0.00	1.74	(2.25)	14.41
GPN	1.26	0.23	0.15	(12.91)	1.20	(1.41)	3.43	(2.66)	10.39
CPRT	1.12	0.17	0.13	0.42	1.00	(1.30)	2.67	(1.95)	13.00
ABM	1.20	0.01	0.00	0.06	1.96	(1.16)	2.05	(2.35)	13.29

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