Hays Plc Correlations

Stocks . Germany . 
Stock . Hays plc
HAY Stock  EUR 0.95  0.04  4.04%   
The current 90-days correlation between Hays plc and Robert Half International is 0.39 (i.e., Weak diversification). The correlation of Hays Plc 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.

Hays Plc Correlation With Market

Modest diversification

The correlation between Hays plc and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hays plc and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hays Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hays Plc when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Hays Plc - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Hays plc to buy it.

Moving together with Hays Stock

  0.84MPW ManpowerGroupPairCorr
  0.733MI PageGroup plcPairCorr
  0.65SG9 Strix Group PlcPairCorr

Moving against Hays Stock

  0.662PP PayPal HoldingsPairCorr
  0.65RHJ Robert Half InternationalPairCorr
  0.6474F LIFE BANC SPLITPairCorr
  0.64SAP SAP SEPairCorr
  0.61HEI Heidelberg MaterialsPairCorr
  0.57UVV Universal CorpPairCorr
  0.49XTP Sino AGPairCorr
  0.44KFY Korn FerryPairCorr
  0.36UF2 Sunstone Hotel InvestorsPairCorr
  0.35HLAG Hapag Lloyd AGPairCorr
  0.340CG Chegg IncPairCorr
  0.82CMAB Mapfre SAPairCorr
  0.787SU Summit MaterialsPairCorr
  0.77BN9 The BankPairCorr
  0.73JBL JABIL CIRCUITPairCorr
  0.73ACT AlzChem Group AGPairCorr
  0.73DTG Daimler Truck HoldingPairCorr
  0.71ACT AlzChem Group AGPairCorr
  0.71AKX ANSYS IncPairCorr
  0.638II PLAYTIKA HOLDINGPairCorr
  0.57E6Q GOLD ROAD RESPairCorr
  0.57TF7A Tyson FoodsPairCorr
  0.5ML2 Ming Le SportsPairCorr
  0.4CRIN UniCredit SpAPairCorr
  0.33E908 Lyxor 1PairCorr

Related Correlations Analysis

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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   
KFY
+ 0.8
RHJ
3MI
+ 0.73
HAY
HAY
+ 0.6
ASF
XXY
+ 0.54
ASF
3MI
+ 0.52
ASF
XXY
+ 0.33
3MI
  
High negative correlations   
HAY
- 0.65
RHJ
ASF
- 0.45
RHJ
HAY
- 0.44
KFY
3MI
- 0.42
RHJ
KFY
- 0.39
ASF
3MI
- 0.32
KFY

Risk-Adjusted Indicators

There is a big difference between Hays Stock performing well and Hays Plc 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 Hays Plc'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Hays Plc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Hays Plc Corporate Management

Elected by the shareholders, the Hays Plc's board of directors comprises two types of representatives: Hays Plc inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hays. The board's role is to monitor Hays Plc's management team and ensure that shareholders' interests are well served. Hays Plc's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hays Plc's outside directors are responsible for providing unbiased perspectives on the board's policies.
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