TrueBlue Correlations

TBI Stock

USD 5.64 0.10 1.74%

The current 90-days correlation between TrueBlue and Kelly Services A is 0.41 (i.e., Very weak diversification). The correlation of TrueBlue 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.

TrueBlue Correlation With Market

Modest diversification

The correlation between TrueBlue and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueBlue and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in TrueBlue. 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.

For more detail on how to invest in TrueBlue Stock please use our How to Invest in TrueBlue guide.

Moving together with TrueBlue Stock

0.96	BV	BrightView Holdings	Pair Corr
0.81	FA	First Advantage Corp	Pair Corr
0.82	FC	Franklin Covey Earnings Call This Week	Pair Corr
0.66	NL	NL Industries	Pair Corr
0.9	DLHC	DLH Holdings Corp	Pair Corr
0.75	VCIG	VCI Global Limited	Pair Corr
0.72	VLTO	Veralto Sell-off Trend	Pair Corr
0.89	EXPO	Exponent	Pair Corr
0.94	AXR	AMREP	Pair Corr
0.64	BCO	Brinks Company	Pair Corr
0.82	BRC	Brady	Pair Corr
0.85	BTM	Bitcoin Depot	Pair Corr
0.79	CIX	CompX International	Pair Corr
0.95	FORR	Forrester Research	Pair Corr
0.92	CLH	Clean Harbors	Pair Corr
0.63	CXW	CoreCivic	Pair Corr
0.94	DLX	Deluxe	Pair Corr
0.96	DNB	Dun Bradstreet Holdings	Pair Corr
0.75	EFX	Equifax	Pair Corr

Moving against TrueBlue Stock

0.72	KC	Kingsoft Cloud Holdings Earnings Call Tomorrow	Pair Corr
0.67	WM	Waste Management	Pair Corr
0.65	LZ	LegalZoom	Pair Corr
0.61	G	Genpact Limited	Pair Corr
0.61	VRSK	Verisk Analytics	Pair Corr
0.57	ESGL	ESGL Holdings Limited	Pair Corr
0.47	MG	Mistras Group	Pair Corr
0.43	VSEC	VSE Corporation	Pair Corr
0.8	GDS	GDS Holdings Earnings Call This Week	Pair Corr
0.44	EBF	Ennis Inc	Pair Corr
0.43	GFL	Gfl Environmental	Pair Corr

Related Correlations Analysis

	KELYA	KFY	HSII	HSON	MAN	KFRC	BBSI	RHI	HRT	KELYB
KELYA		0.64	0.39	0.31	0.33	0.43	0.48	0.45	0.0	0.37	KELYA
KFY	0.64		0.71	0.61	0.58	0.72	0.79	0.63	0.0	0.42	KFY
HSII	0.39	0.71		0.41	0.59	0.56	0.6	0.39	0.0	0.21	HSII
HSON	0.31	0.61	0.41		0.17	0.89	0.8	0.92	0.0	0.65	HSON
MAN	0.33	0.58	0.59	0.17		0.5	0.2	0.24	0.0	0.2	MAN
KFRC	0.43	0.72	0.56	0.89	0.5		0.76	0.92	0.0	0.58	KFRC
BBSI	0.48	0.79	0.6	0.8	0.2	0.76		0.8	0.0	0.42	BBSI
RHI	0.45	0.63	0.39	0.92	0.24	0.92	0.8		0.0	0.64	RHI
HRT	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HRT
KELYB	0.37	0.42	0.21	0.65	0.2	0.58	0.42	0.64	0.0		KELYB
	KELYA	KFY	HSII	HSON	MAN	KFRC	BBSI	RHI	HRT	KELYB

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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

RHI	+ 0.92	HSON
RHI	+ 0.92	KFRC
KFRC	+ 0.89	HSON
BBSI	+ 0.8	HSON
RHI	+ 0.8	BBSI
BBSI	+ 0.79	KFY

High negative correlations

KELYB	- 0.0	HRT
HRT	- 0.0	RHI
HRT	- 0.0	BBSI
HRT	- 0.0	KFRC
HRT	- 0.0	MAN
HRT	- 0.0	HSON

Risk-Adjusted Indicators

There is a big difference between TrueBlue Stock performing well and TrueBlue 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 TrueBlue'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
KELYA	1.55	(0.09)	(0.20)	3.16	(3.36)	11.95
KFY	1.15	(0.03)	(0.12)	1.94	(2.63)	8.79
HSII	1.21	(0.05)	(0.23)	2.44	(3.38)	17.22
HSON	1.61	(0.43)	(0.69)	3.22	(3.73)	8.93
MAN	1.32	0.02	(0.06)	3.22	(2.38)	8.18
KFRC	1.16	(0.21)	(0.40)	2.22	(3.31)	7.05
BBSI	0.93	(0.05)	(0.17)	1.48	(1.96)	4.99
RHI	1.24	(0.42)	(0.61)	2.29	(2.86)	9.07
HRT	0.00	0.00	0.00	0.00	0.00	0.00
KELYB	1.35	(0.13)	0.43	3.92	(4.85)	18.14

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