TrueBlue Correlations

TBI Stock

USD 4.81 0.26 5.71%

The current 90-days correlation between TrueBlue and Tema Electrification ETF is 0.26 (i.e., Modest 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

Average diversification

The correlation between TrueBlue and DJI is 0.14 (i.e., Average 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	PAYX	Paychex	Pair Corr
0.73	NBB	Norman Broadbent Plc	Pair Corr
0.85	ALIT	Alight Inc	Pair Corr
0.61	JAKK	JAKKS Pacific	Pair Corr

Moving against TrueBlue Stock

0.67	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.66	PPERY	Bank Mandiri Persero	Pair Corr
0.53	EC	Ecopetrol SA ADR	Pair Corr
0.41	KFRC	Kforce Inc	Pair Corr
0.41	TLK	Telkom Indonesia Tbk	Pair Corr
0.38	PTAIY	Astra International Tbk	Pair Corr
0.75	PNGZF	Paringa Resources	Pair Corr
0.69	JOE	St Joe Company	Pair Corr
0.68	85855CAE0	STLA 6375 12	Pair Corr
0.63	FYBR	Frontier Communications	Pair Corr
0.58	DNGFF	Dongfang Electric	Pair Corr
0.51	JSPCF	JSP Corporation	Pair Corr
0.49	VBNK	VersaBank	Pair Corr
0.38	APA	APA Corporation	Pair Corr
0.36	CNI	Canadian National Railway	Pair Corr
0.35	BEN	Franklin Resources	Pair Corr
0.71	PAOG	Pao Group	Pair Corr
0.65	OXBC	Oxford Bank	Pair Corr
0.62	ALB	Albemarle Corp	Pair Corr
0.58	CRS	Carpenter Technology	Pair Corr
0.57	RY	Royal Bank	Pair Corr
0.56	WEICF	Weichai Power	Pair Corr

Related Correlations Analysis

	VOLT	FORR	SRFM	MVST	HQI	RGP	HUHU	PEW	TAYD	ONEG
VOLT		0.42	0.46	0.63	-0.18	-0.52	-0.47	0.6	-0.41	0.61	VOLT
FORR	0.42		0.78	0.68	0.13	-0.54	-0.75	0.64	-0.25	0.74	FORR
SRFM	0.46	0.78		0.86	0.12	-0.69	-0.85	0.88	-0.18	0.91	SRFM
MVST	0.63	0.68	0.86		-0.24	-0.85	-0.86	0.92	-0.6	0.91	MVST
HQI	-0.18	0.13	0.12	-0.24		0.18	0.17	-0.12	0.65	-0.01	HQI
RGP	-0.52	-0.54	-0.69	-0.85	0.18		0.78	-0.83	0.64	-0.8	RGP
HUHU	-0.47	-0.75	-0.85	-0.86	0.17	0.78		-0.78	0.56	-0.78	HUHU
PEW	0.6	0.64	0.88	0.92	-0.12	-0.83	-0.78		-0.47	0.94	PEW
TAYD	-0.41	-0.25	-0.18	-0.6	0.65	0.64	0.56	-0.47		-0.38	TAYD
ONEG	0.61	0.74	0.91	0.91	-0.01	-0.8	-0.78	0.94	-0.38		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

ONEG	+ 0.94	PEW
PEW	+ 0.92	MVST
ONEG	+ 0.91	SRFM
ONEG	+ 0.91	MVST
PEW	+ 0.88	SRFM
MVST	+ 0.86	SRFM

High negative correlations

HUHU	- 0.86	MVST
RGP	- 0.85	MVST
HUHU	- 0.85	SRFM
PEW	- 0.83	RGP
ONEG	- 0.8	RGP
ONEG	- 0.78	HUHU

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	0.97	(0.02)	(0.06)	0.01	1.37	(0.93)	1.74	(2.15)	5.37
FORR	2.31	(0.11)	0.00	(0.06)	0.00	0.00	3.74	(4.40)	16.68
SRFM	4.92	(0.77)	0.00	(0.11)	0.00	0.00	10.58	(8.50)	26.17
MVST	3.95	(0.44)	0.00	(0.10)	0.00	0.00	11.75	(8.91)	31.06
HQI	2.82	0.37	0.11	0.67	2.74	(3.23)	8.40	(4.99)	23.30
RGP	2.37	0.00	(0.01)	0.09	3.78	(2.29)	4.80	(5.15)	21.08
HUHU	3.70	0.59	0.13	0.39	4.10	(4.40)	11.46	(9.45)	31.09
PEW	2.27	(0.51)	0.00	(0.20)	0.00	0.00	4.29	(5.07)	13.21
TAYD	2.51	0.81	0.17	90.93	3.11	(2.65)	5.41	(4.32)	19.29
ONEG	6.84	(1.74)	0.00	(0.32)	0.00	0.00	13.04	(30.46)	64.37

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