HR Block Correlations

HRB Stock

USD 53.53 1.26 2.41%

The current 90-days correlation between HR Block and Bright Horizons Family is 0.33 (i.e., Weak diversification). The correlation of HR Block 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.

HR Block Correlation With Market

Weak diversification

The correlation between HR Block and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HR Block and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in HR Block. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

For information on how to trade HRB Stock refer to our How to Trade HRB Stock guide.

Moving together with HRB Stock

0.7	SG	Sweetgreen	Pair Corr
0.64	DIN	Dine Brands Global Earnings Call Today	Pair Corr
0.66	GENK	GEN Restaurant Group,	Pair Corr
0.64	YTRA	Yatra Online	Pair Corr
0.65	JACK	Jack In	Pair Corr

Moving against HRB Stock

0.5	DRI	Darden Restaurants	Pair Corr
0.41	BH	Biglari Holdings	Pair Corr
0.4	LTH	Life Time Group	Pair Corr
0.39	FAT	FAT Brands Earnings Call This Week	Pair Corr
0.32	EAT	Brinker International	Pair Corr
0.42	OSW	OneSpaWorld Holdings Earnings Call Today	Pair Corr

Related Correlations Analysis

	BFAM	SCI	CSV	DSEY	MCW	ROL	WW	EM	FTDR
BFAM		-0.05	0.19	0.0	0.51	0.74	-0.82	0.46	0.39	BFAM
SCI	-0.05		-0.26	0.0	0.45	0.3	0.06	-0.73	0.06	SCI
CSV	0.19	-0.26		0.0	0.35	0.42	-0.22	0.51	0.48	CSV
DSEY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	DSEY
MCW	0.51	0.45	0.35	0.0		0.72	-0.41	0.05	0.6	MCW
ROL	0.74	0.3	0.42	0.0	0.72		-0.72	0.32	0.58	ROL
WW	-0.82	0.06	-0.22	0.0	-0.41	-0.72		-0.4	-0.25	WW
EM	0.46	-0.73	0.51	0.0	0.05	0.32	-0.4		0.47	EM
FTDR	0.39	0.06	0.48	0.0	0.6	0.58	-0.25	0.47		FTDR
	BFAM	SCI	CSV	DSEY	MCW	ROL	WW	EM	FTDR

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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

ROL	+ 0.74	BFAM
ROL	+ 0.72	MCW
FTDR	+ 0.6	MCW
FTDR	+ 0.58	ROL
MCW	+ 0.51	BFAM
EM	+ 0.51	CSV

High negative correlations

WW	- 0.82	BFAM
EM	- 0.73	SCI
WW	- 0.72	ROL
WW	- 0.41	MCW
EM	- 0.4	WW
CSV	- 0.26	SCI

Risk-Adjusted Indicators

There is a big difference between HRB Stock performing well and HR Block 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 HR Block'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
BFAM	1.25	0.17	0.09	0.26	1.53	(1.25)	2.66	(2.88)	10.65
SCI	0.96	(0.09)	0.00	(0.13)	0.00	0.00	1.53	(2.78)	12.64
CSV	1.04	0.10	0.08	(0.41)	1.18	(1.12)	1.95	(2.09)	6.17
DSEY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MCW	1.44	(0.09)	0.00	(0.85)	0.00	0.00	2.80	(2.94)	8.74
ROL	0.83	0.04	0.04	0.10	0.89	(0.99)	2.02	(1.63)	5.90
WW	5.29	(0.73)	0.00	0.89	0.00	0.00	14.94	(9.43)	33.17
EM	2.09	0.83	0.32	(1.43)	1.34	(3.71)	4.17	(3.95)	40.89
FTDR	1.38	0.09	0.05	0.11	1.66	(1.44)	2.67	(2.82)	7.85

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