TriNet Correlations

TNET Stock

USD 71.67 2.64 3.82%

The current 90-days correlation between TriNet Group and ManpowerGroup is 0.08 (i.e., Significant diversification). The correlation of TriNet 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.

TriNet Correlation With Market

Modest diversification

The correlation between TriNet Group and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TriNet Group 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 TriNet Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with TriNet Stock

0.72	BV	BrightView Holdings	Pair Corr
0.76	DLHC	DLH Holdings Corp	Pair Corr
0.65	EXPO	Exponent	Pair Corr
0.62	WLDN	Willdan Group Earnings Call This Week	Pair Corr
0.62	BTM	Bitcoin Depot	Pair Corr
0.81	DLX	Deluxe	Pair Corr
0.61	FVRR	Fiverr International	Pair Corr
0.64	MAN	ManpowerGroup	Pair Corr
0.69	TBI	TrueBlue	Pair Corr
0.71	WEX	Wex Inc	Pair Corr

Moving against TriNet Stock

0.67	KC	Kingsoft Cloud Holdings	Pair Corr
0.58	G	Genpact Limited	Pair Corr
0.39	VRSK	Verisk Analytics	Pair Corr
0.38	WM	Waste Management	Pair Corr
0.33	MG	Mistras Group Earnings Call This Week	Pair Corr
0.31	LZ	LegalZoom	Pair Corr
0.51	NSP	Insperity	Pair Corr
0.34	KAR	KAR Auction Services	Pair Corr
0.84	INOD	Innodata Buyout Trend	Pair Corr
0.5	IIIV	i3 Verticals	Pair Corr
0.49	PBI	Pitney Bowes	Pair Corr
0.35	ROL	Rollins Sell-off Trend	Pair Corr

Related Correlations Analysis

	MAN	KFRC	KELYA	HRT	HSII	BGSF	HSON	HQI	KFY
MAN		0.84	0.7	0.0	0.74	0.09	0.71	0.32	0.86	MAN
KFRC	0.84		0.45	0.0	0.62	0.45	0.91	0.3	0.7	KFRC
KELYA	0.7	0.45		0.0	0.48	-0.31	0.26	0.28	0.69	KELYA
HRT	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	HRT
HSII	0.74	0.62	0.48	0.0		0.03	0.51	-0.14	0.7	HSII
BGSF	0.09	0.45	-0.31	0.0	0.03		0.48	-0.01	-0.2	BGSF
HSON	0.71	0.91	0.26	0.0	0.51	0.48		0.42	0.64	HSON
HQI	0.32	0.3	0.28	0.0	-0.14	-0.01	0.42		0.43	HQI
KFY	0.86	0.7	0.69	0.0	0.7	-0.2	0.64	0.43		KFY
	MAN	KFRC	KELYA	HRT	HSII	BGSF	HSON	HQI	KFY

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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	+ 0.91	KFRC
KFY	+ 0.86	MAN
KFRC	+ 0.84	MAN
HSII	+ 0.74	MAN
HSON	+ 0.71	MAN
KELYA	+ 0.7	MAN

High negative correlations

BGSF	- 0.31	KELYA
KFY	- 0.2	BGSF
HQI	- 0.14	HSII
HQI	- 0.01	BGSF
KFY	- 0.0	HRT
HQI	- 0.0	HRT

Risk-Adjusted Indicators

There is a big difference between TriNet Stock performing well and TriNet 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 TriNet'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
MAN	1.18	(0.04)	0.00	(0.06)	0.00	0.00	2.80	(2.38)	6.71
KFRC	1.10	(0.22)	0.00	(0.28)	0.00	0.00	2.23	(3.24)	6.57
KELYA	1.58	(0.04)	0.00	(0.05)	0.00	0.00	3.45	(3.31)	12.03
HRT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSII	0.88	(0.15)	0.00	(0.26)	0.00	0.00	1.60	(1.97)	7.42
BGSF	2.13	(0.22)	0.00	0.33	0.00	0.00	4.56	(6.17)	17.21
HSON	1.67	(0.36)	0.00	(0.93)	0.00	0.00	4.12	(3.73)	12.40
HQI	2.42	0.07	0.02	0.07	2.94	(2.42)	4.84	(4.42)	12.10
KFY	1.09	(0.21)	0.00	(0.24)	0.00	0.00	1.83	(2.17)	10.79

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