Kelly Services Correlations

KELYA Stock  USD 12.56  0.02  0.16%   
The current 90-days correlation between Kelly Services A and Heidrick Struggles International is 0.62 (i.e., Poor diversification). The correlation of Kelly Services 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.

Kelly Services Correlation With Market

Very weak diversification

The correlation between Kelly Services A and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kelly Services A and DJI in the same portfolio, assuming nothing else is changed.
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kelly Services A. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Kelly Stock

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  0.7DLX DeluxePairCorr
  0.78HNI HNI Corp Earnings Call This WeekPairCorr
  0.73KAR KAR Auction ServicesPairCorr
  0.65KFY Korn FerryPairCorr
  0.66MSA MSA Safety Earnings Call This WeekPairCorr
  0.73HDSN Hudson TechnologiesPairCorr
  0.64MATW Matthews InternationalPairCorr
  0.7MLKN MillerKnollPairCorr
  0.81NIXX Nixxy, Inc Symbol ChangePairCorr
  0.74RCMT RCM TechnologiesPairCorr
  0.64ACCO Acco BrandsPairCorr

Moving against Kelly Stock

  0.47VIRC Virco ManufacturingPairCorr
  0.45MG Mistras GroupPairCorr
  0.33VCIG VCI Global LimitedPairCorr
  0.33DSS DSS IncPairCorr
  0.32GFL Gfl EnvironmentalPairCorr
  0.31WM Waste Management Earnings Call This WeekPairCorr
  0.57CDTG CDT EnvironmentalPairCorr
  0.53AQMS Aqua MetalsPairCorr

Related Correlations Analysis

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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   
KFYHSII
KFYKELYB
MANKFRC
KELYBHSII
KFRCKELYB
KFRCHSII
  
High negative correlations   
KFYHSON
HSONHSII
KFRCHSON
KELYBHSON

Risk-Adjusted Indicators

There is a big difference between Kelly Stock performing well and Kelly Services 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 Kelly Services' 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.

Kelly Services Corporate Management