Correlation Between TriNet and Clear Secure

Can any of the company-specific risk be diversified away by investing in both TriNet and Clear Secure at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining TriNet and Clear Secure into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between TriNet Group and Clear Secure, you can compare the effects of market volatilities on TriNet and Clear Secure 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 TriNet with a short position of Clear Secure. Check out your portfolio center. Please also check ongoing floating volatility patterns of TriNet and Clear Secure.

Diversification Opportunities for TriNet and Clear Secure

-0.8

Correlation Coefficient

TriNet  Clear Secure

Pay attention - limited upside

The 3 months correlation between TriNet and Clear is -0.8. Overlapping area represents the amount of risk that can be diversified away by holding TriNet Group and Clear Secure in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Clear Secure and TriNet 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 TriNet Group are associated (or correlated) with Clear Secure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Clear Secure has no effect on the direction of TriNet i.e., TriNet and Clear Secure go up and down completely randomly.

Pair Corralation between TriNet and Clear Secure

Given the investment horizon of 90 days TriNet Group is expected to under-perform the Clear Secure. But the stock apears to be less risky and, when comparing its historical volatility, TriNet Group is 1.3 times less risky than Clear Secure. The stock trades about -0.16 of its potential returns per unit of risk. The Clear Secure is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest  2,552  in Clear Secure on April 22, 2025 and sell it today you would earn a total of  402.00  from holding Clear Secure or generate 15.75% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

TriNet Group  vs.  Clear Secure

TriNet Group

Risk-Adjusted Performance

Very Weak

Over the last 90 days TriNet Group has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's technical and fundamental indicators remain comparatively stable which may send shares a bit higher in August 2025. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Clear Secure

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Clear Secure are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, Clear Secure unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with TriNet and Clear Secure

The main advantage of trading using opposite TriNet and Clear Secure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TriNet position performs unexpectedly, Clear Secure can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Clear Secure will offset losses from the drop in Clear Secure's long position.

The idea behind TriNet Group and Clear Secure pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.