TrueBlue Correlations

TBI Stock

USD 5.46 0.07 1.30%

The current 90-days correlation between TrueBlue and Tema Electrification ETF is 0.27 (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

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

0.72	RHI	Robert Half International Earnings Call This Week	Pair Corr
0.65	TEAMLEASE	Teamlease Services	Pair Corr
0.64	PKX	POSCO Holdings	Pair Corr

Moving against TrueBlue Stock

0.76	TIMB	TIM Participacoes	Pair Corr
0.74	WTRG	Essential Utilities	Pair Corr
0.74	BDVB	Bagger Daves Burger	Pair Corr
0.72	EJPRY	East Japan Railway	Pair Corr
0.69	ELME	Elme Communities	Pair Corr
0.56	PUTKY	United Tractors Tbk	Pair Corr
0.55	PTAIY	Astra International Tbk	Pair Corr
0.54	NBB	Norman Broadbent Plc	Pair Corr
0.53	HQH	Tekla Healthcare Inv	Pair Corr
0.51	36966TGR7	GENERAL ELEC CAP	Pair Corr
0.5	NGL	NGL Energy Partners	Pair Corr
0.41	SSNLF	Samsung Electronics	Pair Corr
0.41	SVM	Silvercorp Metals	Pair Corr
0.39	MXC	Mexco Energy	Pair Corr
0.37	HDRSF	Highland Copper Earnings Call Today	Pair Corr
0.32	RKLB	Rocket Lab USA Aggressive Push	Pair Corr
0.79	DANOY	Danone PK	Pair Corr
0.61	OFED	Oconee Federal Financial	Pair Corr
0.61	REGCP	Regency Centers Earnings Call This Week	Pair Corr
0.61	TPB	Turning Point Brands Earnings Call This Week	Pair Corr
0.57	RDNT	RadNet Inc	Pair Corr
0.55	ITRG	Integra Resources Corp	Pair Corr
0.55	TTI	Tetra Technologies	Pair Corr
0.54	EVMNY	Evolution Mining	Pair Corr
0.53	CHNXF	ChitogenX	Pair Corr

Related Correlations Analysis

	VOLT	SKYX	ROMA	FORR	SHMD	SMHI	MVST	RGP	POWW	EVLV
VOLT		0.51	-0.24	-0.56	0.46	0.13	0.87	-0.38	0.59	0.41	VOLT
SKYX	0.51		-0.35	-0.19	0.12	0.58	0.42	-0.07	0.67	0.75	SKYX
ROMA	-0.24	-0.35		0.48	0.0	-0.44	0.0	0.45	-0.44	-0.57	ROMA
FORR	-0.56	-0.19	0.48		-0.34	0.18	-0.47	0.6	-0.38	-0.18	FORR
SHMD	0.46	0.12	0.0	-0.34		-0.3	0.67	-0.32	0.05	-0.16	SHMD
SMHI	0.13	0.58	-0.44	0.18	-0.3		-0.07	0.26	0.55	0.69	SMHI
MVST	0.87	0.42	0.0	-0.47	0.67	-0.07		-0.22	0.45	0.14	MVST
RGP	-0.38	-0.07	0.45	0.6	-0.32	0.26	-0.22		0.06	-0.13	RGP
POWW	0.59	0.67	-0.44	-0.38	0.05	0.55	0.45	0.06		0.74	POWW
EVLV	0.41	0.75	-0.57	-0.18	-0.16	0.69	0.14	-0.13	0.74		EVLV
	VOLT	SKYX	ROMA	FORR	SHMD	SMHI	MVST	RGP	POWW	EVLV

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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

MVST	+ 0.87	VOLT
EVLV	+ 0.75	SKYX
EVLV	+ 0.74	POWW
EVLV	+ 0.69	SMHI
POWW	+ 0.67	SKYX
MVST	+ 0.67	SHMD

High negative correlations

EVLV	- 0.57	ROMA
FORR	- 0.56	VOLT
MVST	- 0.47	FORR
POWW	- 0.44	ROMA
SMHI	- 0.44	ROMA
POWW	- 0.38	FORR

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	0.72	0.16	0.22	0.48	0.39	(0.95)	1.66	(1.00)	3.48
SKYX	3.16	0.34	0.11	0.17	3.41	(3.76)	8.41	(6.14)	22.74
ROMA	5.96	(0.04)	0.01	0.03	6.70	(7.38)	15.12	(12.37)	49.83
FORR	2.53	(0.16)	0.00	(0.12)	0.00	0.00	6.23	(5.74)	19.16
SHMD	4.43	0.67	0.13	3.39	4.26	(5.70)	14.60	(8.71)	37.05
SMHI	2.91	0.06	0.02	0.10	3.21	(3.45)	7.41	(5.14)	26.70
MVST	4.47	1.04	0.22	0.81	3.87	(5.29)	12.50	(6.18)	21.31
RGP	2.43	(0.34)	0.00	(0.13)	0.00	0.00	4.32	(5.23)	20.14
POWW	2.75	0.27	0.09	0.16	3.34	(3.08)	6.35	(5.69)	15.40
EVLV	2.40	0.58	0.25	0.91	1.85	(3.06)	6.11	(3.77)	14.20

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