TrueBlue Correlations

TBI Stock

USD 4.58 0.12 2.55%

The current 90-days correlation between TrueBlue and Tema Electrification ETF is -0.13 (i.e., Good 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

Modest diversification

The correlation between TrueBlue and DJI is 0.26 (i.e., Modest 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

0.9	ADP	Automatic Data Processing	Pair Corr
0.65	NBB	Norman Broadbent Plc	Pair Corr
0.77	EQC	Equity Commonwealth	Pair Corr
0.69	ENRT	Enertopia Corporatio	Pair Corr

Moving against TrueBlue Stock

0.88	QUILF	Quilter plc	Pair Corr
0.86	NHIC	NewHold Investment Corp	Pair Corr
0.86	FTRS	Futuris Company	Pair Corr
0.84	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.83	OBIO	Orchestra BioMed Holdings	Pair Corr
0.74	FCBBF	FinecoBank Banca Fineco	Pair Corr
0.7	KSANF	Kansai Paint	Pair Corr
0.64	GKOS	Glaukos Corp	Pair Corr
0.64	EXPE	Expedia Group	Pair Corr
0.58	KODK	Eastman Kodak	Pair Corr
0.56	SFRX	Seafarer Exploration	Pair Corr
0.56	DNUT	Krispy Kreme	Pair Corr
0.47	CDIV	Cascadia Investments	Pair Corr
0.34	HAVLF	HAVN Life Sciences	Pair Corr
0.86	COPL	Copley Acquisition Corp	Pair Corr
0.83	PACH	Pioneer Acquisition	Pair Corr
0.79	DRXGF	Drax Group plc	Pair Corr
0.78	INCY	Incyte	Pair Corr
0.76	JBHT	JB Hunt Transport	Pair Corr
0.72	AAPL	Apple Inc	Pair Corr
0.7	MTC	MMTEC Inc Tech Boost	Pair Corr
0.68	SBKFF	State Bank	Pair Corr
0.59	LFST	Lifestance Health	Pair Corr
0.53	NOEM	CO2 Energy Transition	Pair Corr
0.5	THH	TryHard Holdings Trending	Pair Corr

Related Correlations Analysis

	VOLT	FORR	SRFM	MVST	HQI	RGP	HUHU	PEW	TAYD	ONEG
VOLT		-0.32	0.1	0.6	-0.44	-0.65	0.06	-0.02	-0.38	0.17	VOLT
FORR	-0.32		0.78	0.37	0.55	-0.01	-0.8	0.86	-0.34	0.78	FORR
SRFM	0.1	0.78		0.75	0.3	-0.42	-0.91	0.89	-0.69	0.93	SRFM
MVST	0.6	0.37	0.75		0.01	-0.8	-0.66	0.63	-0.76	0.79	MVST
HQI	-0.44	0.55	0.3	0.01		0.05	-0.31	0.52	-0.12	0.41	HQI
RGP	-0.65	-0.01	-0.42	-0.8	0.05		0.37	-0.31	0.73	-0.51	RGP
HUHU	0.06	-0.8	-0.91	-0.66	-0.31	0.37		-0.85	0.65	-0.83	HUHU
PEW	-0.02	0.86	0.89	0.63	0.52	-0.31	-0.85		-0.59	0.91	PEW
TAYD	-0.38	-0.34	-0.69	-0.76	-0.12	0.73	0.65	-0.59		-0.66	TAYD
ONEG	0.17	0.78	0.93	0.79	0.41	-0.51	-0.83	0.91	-0.66		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	+ 0.93	SRFM
ONEG	+ 0.91	PEW
PEW	+ 0.89	SRFM
PEW	+ 0.86	FORR
ONEG	+ 0.79	MVST
SRFM	+ 0.78	FORR

High negative correlations

HUHU	- 0.91	SRFM
PEW	- 0.85	HUHU
ONEG	- 0.83	HUHU
RGP	- 0.8	MVST
HUHU	- 0.8	FORR
TAYD	- 0.76	MVST

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	0.96	0.03	0.01	0.09	1.35	(0.94)	1.67	(2.15)	5.37
FORR	2.73	(0.68)	0.00	(0.43)	0.00	0.00	3.74	(5.76)	19.50
SRFM	4.31	(1.20)	0.00	(0.38)	0.00	0.00	10.10	(8.50)	20.95
MVST	4.13	(0.23)	0.00	(0.05)	0.00	0.00	7.01	(8.91)	31.06
HQI	2.76	(0.07)	(0.02)	(0.01)	3.06	(3.14)	6.85	(4.99)	23.30
RGP	2.13	0.00	0.00	0.06	2.70	(2.26)	4.68	(4.49)	11.85
HUHU	4.26	0.67	0.09	0.36	7.06	(4.54)	11.46	(10.36)	32.76
PEW	2.30	(0.96)	0.00	(0.51)	0.00	0.00	4.13	(6.73)	15.00
TAYD	2.56	0.43	0.09	(4.43)	3.50	(2.52)	5.41	(5.14)	24.54
ONEG	6.21	(2.77)	0.00	(0.80)	0.00	0.00	6.67	(30.46)	64.37

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