ManpowerGroup Correlations

MAN Stock

USD 59.07 1.28 2.12%

The current 90-days correlation between ManpowerGroup and Kforce Inc is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ManpowerGroup moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ManpowerGroup moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ManpowerGroup Correlation With Market

Weak diversification

The correlation between ManpowerGroup and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ManpowerGroup and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ManpowerGroup. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

To learn how to invest in ManpowerGroup Stock, please use our How to Invest in ManpowerGroup guide.

Moving together with ManpowerGroup Stock

0.73

General Dynamics

Pair Corr

Moving against ManpowerGroup Stock

0.55	BA	Boeing	Pair Corr
0.34	FA	First Advantage Corp	Pair Corr
0.32	TG	Tredegar	Pair Corr

Related Correlations Analysis

	KFRC	HSII	KFY	HSON	KELYA	PAYX	HQI
KFRC		0.57	0.68	0.88	0.36	-0.73	-0.17	KFRC
HSII	0.57		0.71	0.42	0.38	-0.19	-0.54	HSII
KFY	0.68	0.71		0.55	0.6	-0.27	-0.39	KFY
HSON	0.88	0.42	0.55		0.23	-0.74	0.0	HSON
KELYA	0.36	0.38	0.6	0.23		-0.06	-0.18	KELYA
PAYX	-0.73	-0.19	-0.27	-0.74	-0.06		0.15	PAYX
HQI	-0.17	-0.54	-0.39	0.0	-0.18	0.15		HQI
	KFRC	HSII	KFY	HSON	KELYA	PAYX	HQI

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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

HSON	+ 0.88	KFRC
KFY	+ 0.71	HSII
KFY	+ 0.68	KFRC
KELYA	+ 0.6	KFY
HSII	+ 0.57	KFRC
HSON	+ 0.55	KFY

High negative correlations

PAYX	- 0.74	HSON
PAYX	- 0.73	KFRC
HQI	- 0.54	HSII
HQI	- 0.39	KFY
PAYX	- 0.27	KFY
PAYX	- 0.19	HSII

Risk-Adjusted Indicators

There is a big difference between ManpowerGroup Stock performing well and ManpowerGroup 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 ManpowerGroup'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
KFRC	1.16	(0.20)	0.00	(0.38)	0.00	0.00	2.22	(3.31)	7.05
HSII	1.23	(0.03)	0.00	(0.16)	0.00	0.00	2.44	(3.38)	17.22
KFY	1.14	0.00	0.00	(0.08)	0.00	0.00	1.94	(2.63)	8.79
HSON	1.69	(0.46)	0.00	(0.67)	0.00	0.00	3.22	(4.18)	9.92
KELYA	1.55	0.02	0.00	(0.04)	0.00	0.00	3.16	(3.36)	11.95
PAYX	0.98	0.12	0.10	0.11	1.37	(1.01)	1.81	(1.54)	7.59
HQI	2.47	(0.03)	0.00	(0.09)	0.00	0.00	4.86	(4.34)	12.07

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