CBIZ Correlations

CBZ Stock

USD 85.32 1.36 1.62%

The current 90-days correlation between CBIZ Inc and Civeo Corp is 0.17 (i.e., Average 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

Good diversification

The correlation between CBIZ Inc and DJI is -0.09 (i.e., Good 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

0.76	G	Genpact Limited Sell-off Trend	Pair Corr
0.72	BR	Broadridge Financial	Pair Corr
0.81	KC	Kingsoft Cloud Holdings	Pair Corr
0.8	LZ	LegalZoom	Pair Corr
0.86	MG	Mistras Group Earnings Call This Week	Pair Corr
0.86	EXLS	ExlService Holdings Earnings Call Tomorrow	Pair Corr
0.67	FOUR	Shift4 Payments	Pair Corr
0.75	IIIV	i3 Verticals	Pair Corr

Moving against CBIZ Stock

0.76	BTM	Bitcoin Depot	Pair Corr
0.74	WLDN	Willdan Group Earnings Call Next Week	Pair Corr
0.65	DLHC	DLH Holdings Corp	Pair Corr
0.64	DLX	Deluxe	Pair Corr
0.6	FTEK	Fuel Tech	Pair Corr
0.59	VLTO	Veralto	Pair Corr
0.59	HNI	HNI Corp	Pair Corr
0.58	NL	NL Industries Earnings Call This Week	Pair Corr
0.56	BV	BrightView Holdings	Pair Corr
0.51	ACU	Acme United Earnings Call This Week	Pair Corr
0.5	SOS	SOS Limited	Pair Corr
0.49	VCIG	VCI Global Limited	Pair Corr
0.46	WEX	Wex Inc Buyout Trend	Pair Corr
0.41	EXPO	Exponent	Pair Corr
0.38	EEFT	Euronet Worldwide	Pair Corr
0.37	VIRC	Virco Manufacturing	Pair Corr
0.36	VSEC	VSE Corporation Earnings Call This Week	Pair Corr
0.82	IMXI	International Money	Pair Corr
0.78	LICY	LiCycle Holdings Corp	Pair Corr
0.77	EVGOW	EVgo Equity Warrants	Pair Corr
0.77	CMPR	Cimpress NV	Pair Corr
0.74	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.74	CDTG	CDT Environmental	Pair Corr
0.68	RPAY	Repay Holdings Corp Earnings Call Tomorrow	Pair Corr
0.66	ZONE	CleanCore Solutions Buyout Trend	Pair Corr

Related Correlations Analysis

	NTIP	CVEO	BV	MMS	FA	CASS	RTO	PFSW	DPUI
NTIP		0.39	-0.42	0.17	-0.32	-0.34	-0.37	0.0	-0.04	NTIP
CVEO	0.39		-0.56	-0.17	-0.05	0.29	0.07	0.0	0.45	CVEO
BV	-0.42	-0.56		0.29	0.33	0.13	0.15	0.0	0.08	BV
MMS	0.17	-0.17	0.29		-0.56	-0.52	-0.59	0.0	0.12	MMS
FA	-0.32	-0.05	0.33	-0.56		0.59	0.52	0.0	-0.03	FA
CASS	-0.34	0.29	0.13	-0.52	0.59		0.84	0.0	0.47	CASS
RTO	-0.37	0.07	0.15	-0.59	0.52	0.84		0.0	0.28	RTO
PFSW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PFSW
DPUI	-0.04	0.45	0.08	0.12	-0.03	0.47	0.28	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	+ 0.84	CASS
CASS	+ 0.59	FA
RTO	+ 0.52	FA
DPUI	+ 0.47	CASS
DPUI	+ 0.45	CVEO
CVEO	+ 0.39	NTIP

High negative correlations

RTO	- 0.59	MMS
FA	- 0.56	MMS
BV	- 0.56	CVEO
CASS	- 0.52	MMS
BV	- 0.42	NTIP
RTO	- 0.37	NTIP

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	1.50	0.04	0.02	(0.09)	1.89	(1.82)	3.08	(2.94)	9.55
CVEO	1.33	0.13	0.11	(1.05)	1.13	(1.76)	3.37	(2.12)	7.28
BV	1.59	(0.20)	0.00	(0.17)	0.00	0.00	2.65	(3.65)	12.43
MMS	1.25	(0.29)	0.00	(6.38)	0.00	0.00	2.24	(2.51)	10.72
FA	1.33	0.07	0.05	0.09	1.47	(1.54)	2.96	(2.67)	8.94
CASS	1.09	(0.04)	0.00	0.14	0.00	0.00	2.56	(2.62)	8.64
RTO	1.20	(0.01)	0.00	0.11	0.00	0.00	2.13	(2.63)	6.84
PFSW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DPUI	13.15	2.63	0.06	(0.98)	13.84	(75.00)	50.00	(33.33)	150.00

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