CBIZ Correlations

CBZ Stock

USD 72.04 0.93 1.31%

The current 90-days correlation between CBIZ Inc and BrightView Holdings is 0.24 (i.e., Modest diversification). The correlation of CBIZ 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. If the correlation is 0, the equities are not correlated; they are entirely random.

CBIZ Correlation With Market

Very weak diversification

The correlation between CBIZ Inc and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CBIZ Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in CBIZ Inc. 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.

Moving together with CBIZ Stock

0.85	FA	First Advantage Corp	Pair Corr
0.62	FC	Franklin Covey Earnings Call This Week	Pair Corr
0.61	AXR	AMREP	Pair Corr
0.7	BCO	Brinks Company	Pair Corr
0.61	BRC	Brady	Pair Corr
0.72	CLH	Clean Harbors	Pair Corr
0.86	FOUR	Shift4 Payments	Pair Corr

Moving against CBIZ Stock

0.91	ESGL	ESGL Holdings Limited	Pair Corr
0.62	VSEC	VSE Corporation	Pair Corr
0.34	WLDN	Willdan Group	Pair Corr
0.33	ACU	Acme United	Pair Corr
0.32	DRVN	Driven Brands Holdings	Pair Corr
0.7	EBF	Ennis Inc	Pair Corr
0.39	GFL	Gfl Environmental	Pair Corr

Related Correlations Analysis

	NTIP	CVEO	BV	MMS	FA	CASS	RTO	PFSW	DPUI
NTIP		0.3	-0.28	0.15	-0.13	-0.22	-0.17	0.0	0.03	NTIP
CVEO	0.3		0.01	-0.02	0.53	0.13	0.43	0.0	0.58	CVEO
BV	-0.28	0.01		0.63	0.76	-0.37	0.43	0.0	0.36	BV
MMS	0.15	-0.02	0.63		0.33	-0.84	-0.14	0.0	0.05	MMS
FA	-0.13	0.53	0.76	0.33		-0.07	0.77	0.0	0.63	FA
CASS	-0.22	0.13	-0.37	-0.84	-0.07		0.33	0.0	0.0	CASS
RTO	-0.17	0.43	0.43	-0.14	0.77	0.33		0.0	0.49	RTO
PFSW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PFSW
DPUI	0.03	0.58	0.36	0.05	0.63	0.0	0.49	0.0		DPUI
	NTIP	CVEO	BV	MMS	FA	CASS	RTO	PFSW	DPUI

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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

RTO	+ 0.77	FA
FA	+ 0.76	BV
MMS	+ 0.63	BV
DPUI	+ 0.63	FA
DPUI	+ 0.58	CVEO
FA	+ 0.53	CVEO

High negative correlations

CASS	- 0.84	MMS
CASS	- 0.37	BV
BV	- 0.28	NTIP
CASS	- 0.22	NTIP
RTO	- 0.17	NTIP
RTO	- 0.14	MMS

Risk-Adjusted Indicators

There is a big difference between CBIZ Stock performing well and CBIZ 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 CBIZ'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
NTIP	1.48	0.09	0.06	0.10	1.90	(1.86)	3.25	(3.15)	10.73
CVEO	1.65	(0.12)	0.00	(0.94)	0.00	0.00	3.22	(2.27)	25.93
BV	1.61	(0.24)	0.00	(0.35)	0.00	0.00	3.67	(3.65)	12.01
MMS	1.29	(0.02)	0.00	(0.13)	0.00	0.00	2.55	(2.51)	10.72
FA	1.70	(0.51)	0.00	(0.70)	0.00	0.00	2.44	(4.35)	17.95
CASS	1.11	0.06	0.00	(0.02)	0.00	0.00	2.58	(2.61)	8.63
RTO	1.60	(0.16)	0.00	(0.23)	0.00	0.00	2.32	(4.92)	13.47
PFSW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DPUI	14.51	3.60	0.07	4.19	14.27	(83.33)	100.00	(50.00)	150.00

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